Swiss fintech company Taurus has taken a bold step in transforming how banks and other financial companies work together more easily with digital assets. Announced earlier today, the fintech company has launched a new platform called Taurus-NETWORK. This initiative introduces a secure, permissioned platform to connect regulated institutions worldwide. The Taurus-NETWORK allows fast settlements, offers safer lending services, and offers automatic processes that reduce risk and save time. What the Taurus-NETWORK Can Do? Taurus-NETWORK is designed to help users use their digital assets as collateral and get credit quickly. It is built to allow banks to collaborate on large loans and crypto exchanges to trade without moving funds out of the system. The platform can also help speed up payments and settlements using traditional money systems and blockchain technology, making the process faster and more efficient. Furthermore, the new system includes built-in tools that automatically check for compliance with rules and regulations. Features like proof of reserves, the travel rule, and identity checks are already part of the system. It can handle most of the common tasks, which helps reduce errors and saves time. With Taurus-NETWORK, users do not have to hand over control of their assets. The new system works with a Taurus-PROTECT account, allowing users to manage their funds directly without needing Taurus to move or approve anything. Taurus-NETWORK Gains Global Adoption More than 35 financial institutions in 10 countries have joined Taurus-NETWORK so far. These include Arab Bank Switzerland, Capital Union Bank, Flowdesk, ISP Group, Misyon Bank, and Swissquote. All members are regulated institutions that can work together securely, even in different countries. Additionally, each participant operates from their own Taurus-PROTECT infrastructure. This means these financial institutions have full control over their assets, even during cross-border or interbank transactions. Yann Isola, Head of Product Financial Services at Taurus, said the Taurus-NETWORK is a major step forward in digital finance. Isola added that the company has plans to release more new features and tools this year and expects institutional partnerships to roll out throughout the year. Taurus Becomes Key Player in Crypto Space Taurus provides secure storage, trading, and token creation for digital assets. Founded in 2018, the fintech firm has quickly become a key player in the crypto industry. Taurus already works with major industry players, such as Stellar Network , Deutsche Bank, State Street, and Credit Suisse. In 2023, Taurus raised $65 million in a Series B funding round led by Credit Suisse. Other major banks, such as Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland, and Investis, participated. This cake before Taurus was by UBS later in the year. The post Taurus Launches New Solution to Connect Banks Around the World appeared first on TheCoinrise.com .
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