The post Deutsche Bank-backed Taurus and Chainlink team up to accelerate tokenized asset adoption appeared on BitcoinEthereumNews.com.

Key Takeaways Taurus and Chainlink’s partnership focuses on enhancing security and data accuracy for tokenized assets. Chainlink’s CCIP has been tested by Taurus to ensure seamless asset transfers across various blockchains. Taurus SA, a key digital asset infrastructure provider for major financial institutions like Deutsche Bank, has partnered with Chainlink Labs, a prominent developer of essential tokenized asset infrastructure, to accelerate institutional adoption of tokenized assets. .@taurus_hq—a leading digital asset and tokenization platform covering issuance, custody, and trading—is fully integrating the #Chainlink platform for data and cross-chain. The collaboration helps advance the adoption of institutional tokenized assets.https://t.co/zmiY8Uzn9A pic.twitter.com/GAhN1GUKQB — Chainlink (@chainlink) October 2, 2024 The collaboration focuses on addressing security, data, and asset mobility challenges within the tokenized asset sector, the companies said. Taurus will leverage Chainlink’s platform to enhance tokenized assets’ security, transparency, and interoperability. Taurus will integrate Chainlink’s Data Feeds and Proof of Reserve to provide high-quality off-chain data for tokenized assets, including market pricing, reference data, and identity data. This will ensure that tokenized assets are backed by accurate and reliable information, reducing risks for investors. In addition, Chainlink Proof of Reserve will help prevent over-issuance and enhance the transparency of asset reserves. The partnership also includes the use of Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which Taurus tested earlier this year, to facilitate seamless asset transfers across different blockchains. “By leveraging Chainlink’s industry-leading infrastructure, we’re able to offer our institutional clients unparalleled liquidity and data integrity for their tokenized assets,” said Juergen Hofbauer, Global Head of Strategic Partnerships at Taurus. “This collaboration aligns perfectly with our mission to provide the most sophisticated and secure digital asset infrastructure in the market.” Discussing the partnership, Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, believes it will encourage more traditional financial institutions to adopt tokenized assets,…

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Filed under: News - @ October 2, 2024 12:18 pm