Taurus, the digital asset infrastructure provider, has been setting up its efforts of tokenization in Europe through full integration with the blockchain Polygon, which the company announced on the 2nd of June. The move will allow the clients to issue digital securities automatically. The provider also claims that it has over 25 clients across nine separate countries, which include Credit Agricole, CACEIS Bank, Credit Suisse, Deutsche Bank, Swissquote, Pictet, and Vonotobel.
A spokesperson for the company informed Cointelegraph that funds, debts, and structured products were among the most popular assets for the tokenization, although the demand varied depending on local regulations. Picking Polygon was therefore the natural choice to benefit from the network of Ethereum.
Taurus Has Been A Pioneer For Tokenized Assets
Colin Butler, the global head of Polygon Labs’ institutional capital, stated in a statement that the tokenization of real-world assets is a no-brainer at the root of this idea. The challenge had always been to create sufficiently advanced infrastructure in order to enable it. A process of tokenization involves converting something intangible and tangible into a digital token. The tokenization of tangible assets such as voting rights or loyalty points could be made possible- as mentioned by Cointelegraph.
Asset tokenization by Taurus is one of the trends that has been driving the blend of traditional finance with the solutions of Web3 across the continent. The central bank in the United Kingdom has been exploring ways in which to tokenize assets with bank money interaction, central bank money, or non-bank money, according to comments from Jon Cunliffe, the deputy governor.