In addition to Taylor, Taurus has also entered into other partnerships to enhance its cryptocurrency custody and tokenization services.
Taurus, a Swiss cryptocurrency custodian, has entered into a strategic partnership with Taylor, a financial services company and lender targeting the German small and medium-sized business (SME) market for asset tokenization.
In a Dec. 14 CoinDesk report, company co-founder Lamin Brahimi revealed that the collaboration involved the tokenization of Taylor's loan portfolio, a process overseen by law firm Allen & Overy. These underwritten debt securities will be available for trading on the Taurus TDX market at that time
Tokenization of SME loans for the German market
Brahimi told CoinDesk that the tokenization process will involve an unnamed investment vehicle in Luxembourg and fully comply with Swiss and European regulations. Additionally, the Taurus co-founder revealed that the signature debt products will attract "rotational" investments from high-profile investors when they launch in the coming weeks.
In addition to providing cryptocurrency custody services to digital asset traders in Europe, the company has a unique position in the TDX market. After successfully completing more than 20 deals, the company has generated more than $1 billion in revenue.
“The TDX market is Taurus' other business besides conservation and we have completed more than 20 transactions. These include token shares, debt, structured and industrial products. At face value it is still over $1 billion,” Brahimi said.
His new business partner, Taylor, provides loans of 100,000 euros ($109,000) to 1.5 million euros ($1.6 million) to medium-sized German companies backed by investors such as British bank Barclays.
In an interview, company CEO Patrick Stibble also told CoinDesk that the financial services firm lent about $25 million to an unnamed SME last month.
Future token lending products will be specifically targeted at small German companies from sectors such as chemical manufacturing and precision engineering, Stäuble said.
“We lend to companies that typically have five to fifty million in revenue, which is probably too much for a bank branch and too little for a corporate finance department. "The loans we will sign will go to excellent German companies, which import/export chemicals and precision machinery from industry," said Stiebl.
Taurus Partners Deutsche Bank
In addition to Taylor, Taurus has also entered into other partnerships to enhance its cryptocurrency custody and tokenization services.
At the beginning of September, the company merged with Deutsche Bank (DBK). The alliance aims to enable the bank to offer digital asset custody and tokenization services to its customers.
In June, DBK applied for a cryptocurrency storage license from the Federal Financial Supervisory Authority, or BaFin. If approved, the company could partner with Taurus to serve as a custodian of digital assets.
The financial services firm has a long-standing relationship with Taurus and was a major backer of a $65 million Series B funding round for the Credit Suisse-led company in February this year.