Fintech Taurus Partners With Polygon (MATIC)

Polygon, Ethereum layer-2 solution. (Photo; Doc. Coinmarketla)

JAKARTA Taurus, one of Switzerland's leading financial technology companies is reportedly collaborating with Polygon (MATIC). This collaboration is aimed at tokenizing real-world assets for TradFi.

Taurus-PROTECT and Taurus-CAPITAL are custodian and tokenization platforms that have been integrated with the Polygon network, including MATIC native tokens and smart contracts. Two European banking giants, Credit Suisse and Deutsche Bank have provided support to Taurus through a round of fundraising in February.

Taurus estimates that the digital asset industry will grow to more than 10 trillion US dollars (equivalent to Rp148 quadrillion) in the future. This is mainly driven by the clarity of regulations that are starting to improve and various related aspects.

Tokenization is the process of creating digitally tradable units representing real-world assets. Many traditional banks and financial institutions are interested in this field and have been conducting experiments with asset tokenization in recent years.

Taurus stated that most Level 1 financial institutions have entered tokenization space and built the ability to manage tokenized securities. Since 2020, Taurus has been working to meet these needs and will continue to provide clients with as many options as possible while still complying with regulatory standards in all operational jurisdictions.

Colin Butler, Head of Polygon Labs' Unstitutional Capital Global, stated that real-world asset tokenization is an idea that doesn't need to be thought of anymore, the challenge is building sophisticated infrastructure to allow that to happen.

Taurus chose Polygon as its choice of blockchain because it has a large ecosystem, low transaction fees, and high throughput. In addition, Polygon has Layer-1 security because it is built on Ethereum.

With these characteristics, Taurus is expected to provide services with minimum risk and high efficiency level. Through integration with Polygon, Taurus will also provide support for Staking and decentralized finance or DeFi.