• Swiss digital asset service provider, Taurus, has announced a strategic partnership with Polygon, an Ethereum scaling network.
• This alliance will enable Taurus to support staking and DeFi services, as well as benefit from Polygon’s layer-2 blockchain for faster and lower cost transactions.
• The tokenization of physical assets is becoming increasingly popular in the financial sector, drawing attention from traditional institutions such as JPMorgan and Bank of America.
Taurus Integrates with Polygon
Swiss digital asset service provider, Taurus, has formed an alliance with Ethereum blockchain scaling network, Polygon. This partnership will enable Taurus to support staking and DeFi services through the use of Polygon’s layer-2 blockchain which processes transactions faster and at a lower cost than the primary Ethereum network.
Tokenization Growing in Popularity
The growing trend of tokenizing physical assets is attracting significant interest from traditional financial institutions towards the emerging blockchain sector. For instance, JPMorgan has previously executed live trades on Polygon using tokenized versions of the yen and Singapore dollar. Additionally, Bank of America reported that the tokenized gold market had exceeded $1 billion in April 2021.
Funding for Taurus
Earlier this year, Taurus secured $65 million in funding from a round led by Credit Suisse and Deutsche Bank. This illustrates not only increasing involvement from top-tier financial institutions but also their ambition to develop capabilities to handle tokenized securities across different blockchains without being dependent on any specific one.
Polygons design as a layer-2 blockchain positions it to process transactions faster and at a lower cost than the primary Ethereum network while its ambitions include evolving into an “internet of blockchains” linking any Ethereum-compatible networks while enhancing transaction speeds and reducing costs.
This association between Taurus and Polygon underlines both companies ambitions to increase their influence within the digital asset space through increased development capabilities for tokenized securities across multiple blockchains that can be processed faster and more securely than ever before.
Felix Schulze ist unser Krypto-Enthusiast und Chefredakteur im Team. Der studierte Wirtschaftsinformatiker hat sich schon früh, seit 2017, intensiv mit den technischen Grundlagen von Bitcoin und Blockchain-Anwendungen beschäftigt.
Er betreibt einen der populärsten deutschsprachigen Blogs zu diesen Themen und produziert einen viel gehörten Podcast für Krypto-Fans. Mit seinem enormen Wissensschatz hat Felix sich längst als einer der führenden Experten für die funktionellen und technologischen Details rund um Bitcoin etabliert. Er steuert spannende Hintergrundberichte und Technik-Analysen für unsere Leser bei.