Taurus, Chainlink team up to facilitate institutional tokens.
Taurus, a digital asset infrastructure provider, has partnered with Chainlink Labs, a blockchain technology company, to facilitate institutional tokenization.
The partnership aims to promote the adoption of tokenized assets in institutional markets with a focus on improving data transparency, cross-chain portability and security.
In a news release shared with Cointelegraph, Taurus said it uses Chainlink data feeds for “market value, reference data and identity information” to provide asset status information and facilitate transactions.
Related: Tokenized asset market to reach $10T by 2030: Chainlink report
Simulation challenges
Juergen Hofbauer, global head of strategic partnerships at Taurus, told Cointelegraph that tokenization is “bringing new investment opportunities for everyone,” but it also comes with challenges. He added:
“An essential part of the solution is to enrich tokenized assets with high-quality on-chain information, including market value, reference information and identity information.”
Related: Taurus Zand Bank Upgrades Crypto, Token Services in UAE
Implications for the financial sector
Hofbauer says the partnership with Chainlink will improve “fluidity and understanding – especially cross-chain.”
“Together, we provide financial institutions with critical information about the status of assets and facilitate transactions across multiple chains.”
ChainLink Infrastructure, together with Taurus, is present in the European digital asset market, giving financial institutions a new opportunity to improve their tokenization process.
Still, challenges remain.
Tokenized asset adoption faces regulatory challenges and risks that partnerships need to overcome in an increasingly crowded market.
Related: 21.co Bitcoin Wrapper to Add Chainlink Backup Verification
Taurus partnership with Aktiariat
On September 26, Taurus partnered with the Swiss fintech company Aktionariat to facilitate the trade of small and medium-sized enterprises in Switzerland.
The partnership will use the Aktionariat tokenization solution to enable companies to convert their shares into blockchain tokens on the Taurus digital exchange on the Ethereum network.
RealUnit, an investment company focused on real assets, will be the first to test this collaboration solution, which will go live in November.
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