Swiss cryptocurrency custody specialist Taurus is collaborating with Temenos, a company that provides core banking software to many of the world’s largest financial institutions, allowing those banks to quickly and easily create crypto wallets and transfer a wide range of digital assets .
This collaboration is important as Geneva-based Temenos is quite large: the company has 67 offices in 40 countries and serves more than 3,000 banks and financial institutions. Taurus, whose cryptocurrency custody clients include the likes of Deutsche Bank and State Street, says it is the first digital asset custody platform to fully integrate with Temenos.
The integration means banks using Temenos can take advantage of one-click crypto wallets that connect seamlessly with traditional accounts, as well as automated deposits, transfers and withdrawals, and real-time reserves, reconciliations and regulatory reporting for digital assets, according to a Press release.
“It means that banks using Temenos can be exposed to any type of digital asset they want,” Taurus co-founder Lamine Brahimi told CoinDesk in an interview. “It could be cryptocurrencies, tokenized securities, stablecoins and even memecoins if they want and their risk department is open to it.”
It’s good timing, Brahimi said, given the imminent arrival of a pro-crypto administration in the US, as well as Europe getting on with the markets on regulating crypto assets (MiCA).
“Everyone is preparing for greater regulatory clarity in the United States,” Brahimi said. “The United States is a big market for Temenos and they have much of their C suite there. So we are preparing, not only in the United States, but everywhere; Hopefully it will start in the first quarter of next year.”
