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Sygnum Bank Now Stores Digital Assets With Taurus Group
Taurus Group has taken on licensed Swiss bank Sygnum as the latest client for its digital asset custody services.
Updated May 9, 2023, 3:13 a.m. Published Nov 6, 2020, 8:41 a.m.
Taurus Group, a Swiss fintech firm, has taken on Sygnum Bank as the latest client for its digital asset custody services.
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Sygnum, which is one of two B2B players that hold banking licenses from the Swiss Financial Market Supervisory Authority (FINMA), will utilize Taurus's Protect secure storage infrastructure, as well as leverage Taurus’ cluster of blockchain nodes, known as Taurus Explorer.
Taurus Explorer provides unified APIs and broadcasting algorithms to interface with multiple blockchain networks.
With the move, Sygnum joins Taurus' other notable clients including banking and investment group Vontobel, Arab Bank Switzerland, SEBA Bank (the other B2B institution to hold a FINMA banking license in Switzerland), and Hypothekarbank Lenzburg.
Following the April 2020 announcement of a €10 million series A ($11.8 million), Taurus has expanded to become a major digital asset infrastructure provider for financial institutions in Europe, the firm said.
It offers a range of digital asset solutions including custody, brokerage, tokenization, asset management and B2B banking.
See also: Crypto Native SEBA Bank Offers Asset Tokenization Service With TokenSoft Tie-Up
"We launched Taurus Group back in 2018 to answer a growing need for enterprise-grade custody solutions by financial industry players interested in digital assets," said Taurus co-founder Jean-Philippe Aumasso. "Taurus is now one of the few companies in the world to master the full technology stack."
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