Chainlink and Credit Suisse-Backed Taurus Unite to Bolster Institutional Tokenized Asset Adoption

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Sead Fadilpašić

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Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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October 2, 2024 08:02 EDT

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Taurus SA, a Swiss digital asset infrastructure provider backed by Deutsche Bank and Credit Suisse, has partnered with the decentralized oracle service Chainlink to fast-track the tokenized asset adoption by global financial institutions.

According to the announcement shared with Cryptonews, the partners will work to solve three crucial challenges in the tokenized asset space, namely security, data, and asset mobility.

To accomplish this, they will enhance tokenized assets with offchain data, robust proof of reserves, and cross-chain interoperability, they said.

For the first factor, Taurus will be integrating Chainlink Data Feeds for market pricing, reference data, and identity data.

This will give it vital information on the asset’s state or facilitating transactions.

Next, it will integrate Chainlink Proof of Reserve to increase reserve transparency and protect users from over-issuance risks.

Lastly, Taurus will incorporate Chainlink’s Cross-Chain Interoperability Protocol (CCIP) for cross-chain connectivity.

All these will subsequently lead to faster adoption, as well as liquidity across multiple blockchains, the partners argued.

Any Tokenized Asset on Any Chain

According to the announcement, the above integrations will enable faster time-to-market for any class of tokenized assets on any blockchain.

They will also result in strong cross-chain security.

Additionally, they will provide “access to greater liquidity with seamless cross-chain interoperability,” the partners said.

Notably, when it comes to CCIP, Taurus already had a chance to test it out. The team said they bridged USDC across chains.

CCIP allows the transfer of tokenized assets to any public or private blockchain where users seek access.

“Utilizing Chainlink’s infrastructure, Taurus will enable the creation of a unified golden record across chains, helping ensure all associated data remains synchronized across different blockchains and offchain systems,” the announcement stated.

Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, commented that the collaboration will help drive the adoption of tokenized assets among major financial institutions, Walker said. This will further solidify “the role of blockchain technology in reshaping global capital markets.”

Taurus’ Global Head of Strategic Partnerships Juergen Hofbauer remarked that leveraging Chainlink’s infrastructure will enable Taurus to offer institutional clients “unparalleled liquidity and data integrity for their tokenized assets.”

Meanwhile, Taurus recently partnered with Swiss equity tokenization platform Aktionariat AG to create the first regulated secondary market for tokenized shares of small and midsize enterprises (SMEs).

Chainlink has enabled over $15 trillion in transaction value so far, the announcement said. It also delivered more than 14 billion onchain data points across the blockchain ecosystem.

It has collaborated with major institutional banks and market infrastructure providers such as Swift, ANZ, Fidelity International, and Sygnum.

These partnerships “successfully demonstrat[ed] how financial institutions can use existing infrastructure and messaging standards to interact with tokenized assets across any blockchain.”