Temenos and Taurus join hands to help banks handle digital assets

Karthik Subramanian

Temenos, one of the leading banking software providers, has integrated Taurus, a Swiss based blockchain infrastructure fintech, into its Temenos Transact banking software platform.

blockchain

In an additional signal that more and more banks are looking towards providing crypto and digital assets services, Temenos, after an evaluation study, has chosen to tie up with Taurus to simplify digital asset access to its banking clients.

Taurus recently a securities firm license from the Swiss Financial Market Supervisory Authority (FINMA) to operate a regulated marketplace for digital assets. This includes not only the usual suspects like Bitcoin and Ethereum but also tokens from the Defi space and it would be able to manage the full life cycle.

Alexandre Duret, Product Director at Temenos, said: “We believe that digital assets represent new opportunities for banks and wealth managers. Investors are increasingly aware of the performance of cryptocurrencies, which can effectively participate in the diversification of a portfolio. But other applications of blockchain technology, such as tokenized securities have the potential to transform the value chain with simpler issuance procedures, greater liquidity and real-time settlement. Taurus is leading the field in cryptography and blockchain technology. By joining forces, we can help banks to bridge the gap between traditional investments and digital assets.”

Taurus will be integrated into Temenos Marketplace which will help the banks to seamlessly integrate cryptocurrencies into their services and also help them manage the assets. This integration would not only help the banks to provide custody services for digital assets but would also help them to create their own tokenized products depending on their business model and the kind of regulatory license that they possess.

Sébastien Dessimoz, a Managing Partner at Taurus, added: “Digital assets represent a major shift in the industry and we see an acceleration in demand since 2020. We are pleased to collaborate with Temenos, the world-leading banking software, and be able to make available our technology to Temenos’ client base of more than 3,000 banks and financial institutions worldwide. Taurus end-to-end platform will allow Temenos clients to manage any digital asset and create products in a couple of clicks.”

It may be noted that Temenos had tied up with Arab Investment Bank and Swiss digital bank Alpian recently for providing digital banking services. A lot of banks are looking to shed their legacy banking image and are looking towards moving to digital banking and quickening up the entire process of onboarding clients as well as instruments and features for their clients to use.

Blockchain and cryptos are expected to form the core of this transformation and that is why we have been seeing this race and this range of tie-ups with blockchain fintech firms in recent times by banks and other financial services companies.

Read this next

Executive Moves

CAPEX.com hires Vikas Lakhwani to join MENA business

Multi-licensed broker CAPEX.com has appointed Vikas Lakhwani as its general manager for the Gulf Cooperation Council (GCC) region.

Retail FX

Swissquote secures CySEC licence as crypto business grows

Swissquote Group, Switzerland’s provider of online trading services, has received approval from CySEC to operate as a market-making Cyprus investment firm.

Institutional FX

Moscow Exchange still enjoys solid market making volumes

The Moscow Exchange, Russia’s largest exchange group, released its monthly batch of trading volumes and metrics for November 2022 – the latest readings showed flat performance across the board for multiple segments.

Inside View

The Year-End FX Turn: To Everything There is a Season

By Paul Houston, Global Head of FX Products, CME Group

Crypto Insider

A Wrapup of zkSync x Bitrue’s “Ask Me Anything” Session

In another edition of Bitrue’s AMA on Twitter Space, Bitrue invited a special guest from the company behind the creation of zkSync, Matter Labs. Marco Cora, Head of Business Development from Matter Labs, joined the session to give listeners a rundown on what’s up with zkSync.

Technology

New Features, Upgrades, and Improvements: B2Broker Launches Big Update of Its Flagship CRM System B2Core

In a massive update for its flagship product, B2Core, B2Broker, one of the leading providers of liquidity and technology solutions for brokers and exchanges, has released new features. Enhancements in the update include the following to provide clients with more features, flexibility, and security:

Industry News

Will SEC v Ripple end come too late for crypto industry in the United States?

SEC v. Ripple Labs has entertained the digital asset industry ever since being filed in 22 December 2020. Nearly two years in, both parties have addressed the court to pursue a summary judgment in order to avoid going to trial.

Inside View

Outsourcing: The Key to Improving Your ROI

Gen Z, the second generation of digital natives, has already set out on its path to wealth creation, participating in the financial markets and inspiring Generation Alpha to follow suit. The current and upcoming generations of investors are increasingly looking for cutting-edge technology to aid their decision-making process. As investor demographics change and the markets become increasingly global, brokers need to evolve their ecosystem to stay a step ahead. This is the only way to survive the rapidly changing markets.

Crypto Insider

How did Bitcoin affect Forex in 2022? A few clues and observations

Many news segments and their buzzwords dominated 2022: inflation, war, energy and currency crises, the FTX meltdown, and one bitcoin now being priced less than the cost of mining one. With this in mind, let’s briefly examine how crypto and Forex have bounced off each other in 2022.

<