Temenos MarketPlace partners with Taurus to unlock banks’ access to crypto assets

The partnership will help banks integrate all forms of digital assets across cryptocurrencies, tokenised assets and digital currencies.

By Wesley Bray

Banking software provider, Temenos, has announced the integration of Swiss digital asset and blockchain infrastructure FinTech, Taurus, with its Transact software to deliver ‘simplified’ access to digital assets for its banking clients.

This partnership allows banks to provide custody to a wide range of digital assets and will also further innovate by creating tokenised products of their choice.

Taurus received a securities firm license from the Swiss Financial Market Supervisory Authority (FINMA) allowing the company to operate the first independent regulated marketplace for digital assets in the world.

The FinTech is said to be able to “cover cryptocurrencies including Staking and Decentralised Finance (DeFi), any type of tokenised assets on any standard including issuance and full-lifecycle management, and digital currencies.”

Temenos’ clients can access Taurus’ technology through Temenos MarketPlace, a curated community of FinTech solutions.

Through its full suite of products, Taurus-CAPITAL, Taurus-PROTECT and Taurus-EXPLORER, Taurus provides the capability to integrate and manage any digital asset, whether traditional securities, cash or digital assets.

“We believe that digital assets represent new opportunities for banks and wealth managers. Investors are increasingly aware of the performance of cryptocurrencies, which can effectively participate in the diversification of a portfolio,” said Alexandre Duret, product director at Temenos.

“But other applications of blockchain technology, such as tokenised securities, have the potential to transform the value chain with simpler issuance procedures, greater liquidity and real-time settlement. Taurus is leading the field in cryptography and blockchain technology. By joining forces, we can help banks to bridge the gap between traditional investments and digital assets.”

Last summer, Temenos launched a SaaS Explainable AI (XAI) model to help fund administrators and custodians improve operational efficiency by leveraging static and transactional data patterns, coupled with human judgement and expertise.   

The launch came following a handful of deals for the vendor, which saw mandates from BNP Paribas Securities Services, Citi and Canada Life.

Temenos’ technology is also used for the fund administration and transfer agency businesses of BNP Paribas Securities Services, Credit Suisse, Northern Trust, and Standard Chartered.

“Digital assets represent a major shift in the industry and we see an acceleration in demand since 2020. We are pleased to collaborate with Temenos, the world-leading banking software, and be able to make available our technology to Temenos’ client base of more than 3,000 banks and financial institutions worldwide. Taurus’ end-to-end platform will allow Temenos clients to manage any digital asset and create products in a couple of clicks,” said Sébastien Dessimoz, managing partner at Taurus.