State Street-Backed Taurus and ISP Join Forces on Digital Asset Offering for Institutional Clients

Journalist

Sead Fadilpašić

Journalist

Sead Fadilpašić

About Author

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...

Author Profile

Share

Copied

Last updated: 

November 14, 2024

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

ISP Securities Ltd., a Swiss-headquartered investment firm, has partnered with major crypto firm Taurus to boost ISP’s digital asset offering.

According to the press release shared with Cryptonews, the collaboration includes the banking-grade digital asset custody solution Taurus-PROTECT, as well as Taurus-EXPLORER, a blockchain node infrastructure that provides unified API and secure connectivity with over 25 blockchains.

Therefore, ISP’s professional and institutional clients in Switzerland and abroad can trade, custody, and stake digital assets, the company said.

The firm uses Taurus-EXPLORER to connect and interact with the supported blockchains.

Furthermore, it has integrated Taurus-PROTECT with its core banking system and launched its digital asset offering, leveraging Taurus’ digital asset infrastructure, the team said.

With this move, ISP claims it is “able to implement defense-in-depth security on its custodial wallets with multi-layered security controls.”

This includes HSM-protected environments for optimal efficiency and security; programmable rules and robotic process automation (RPA) features; and “the finest” transaction orchestration, compliant with all applicable regulations.

ISP commented that, by integrating Taurus’ solutions, it strengthened its digital asset capabilities on the one hand.

On the other, it laid “the foundation for a future-proof and compliant business to capture new revenue opportunities related to digital assets market growth,” it said.

ISP Making Moves in Cryptoworld

ISP is a privately owned securities firm, licensed by the Swiss Financial Market Supervisory Authority (FINMA).

It serves clients in a range of areas. This includes paying agent services, securitization, structured products, asset and wealth management, private markets, trading, and bond brokerage.

The company just recently entered the market of digital assets.

In September 2024, ISP announced that it had joined Rulematch. The latter is the institutional trading and settlement venue for digital assets launched by a former Credit Suisse executive David Riegelnig.

At the time, ISP said it aimed to “bring a new standard for secure and efficient large-scale trading” of Bitcoin (BTC) and Ethereum (ETH) with a new sponsored access trading offering for its institutional clients.

In this latest announcement, ISP said it has already started onboarding institutional clients.

The partnership with Taurus will enable it to expand further, it suggested. It can provide services to professional and institutional investors in response to both technological developments and growing client demand for crypto.

Meanwhile, Taurus is a Swiss company, founded in April 2018. It’s backed by Deutsche Bank, Credit Suisse, Santander, and State Street.

Its technology is designed to integrate easily with all types of core banking and accounting systems, the teams stated.

Additionally, Taurus has more than a 50% market share in Switzerland. It’s actively working with a variety of financial institutions, including systemic banks, universal banks, online banks, crypto-banks, private banks, and broker-dealers.

It also operates a marketplace for private assets and tokenized securities.