Digital Assets Firm Taurus Integrates Aave Protocol to Improve Banking Access to DeFi

Swiss fintech firm Taurus Group has integrated the decentralized finance (DeFi) Aave Protocol into its asset infrastructure, allowing banks and exchanges to deposit and borrow digital assets.

• In an announcement, Taurus Group said it has integrated the Aave Protocols’ version 1 and 2 into its end-to-end digital asset infrastructure.
• Aave is a DeFi protocol used for both retail and institutional clients, providing users with a decentralized backend infrastructure for lending and borrowing.
• The Aave Protocol is being used in the Taurus Group custody product “Taurus-PROTECT" as well as its smart contract issuance and interaction platform “Taurus-CAPITAL,” allowing institutional clients to deposit, withdraw and borrow assets, and stake AAVE tokens, said the firm.
• “DeFi provides transparent, efficient and cost-effective solutions for banks to deploy their capital more effectively. We are excited to work with Taurus, who’s a leader in onboarding banks to DeFi through its secure custodian and smart contracts platforms,” said Aave CEO Stani Kulechov.

Read more: Sygnum Bank Now Stores Digital Assets With Taurus Group