Taurus SA announces it has joined the ERC3643 Association.
This move is said to establish Taurus “as one of the first digital asset custody and tokenization infrastructure providers to join the association, marking a significant step in the advancement of smart contract standardization, and reinforcing Taurus’s commitment to offer a smart contract agnostic solution to banking clients.”
The ERC3643 protocol is “an open-source suite of smart contracts, enabling the issuance, management, and transfer of permissioned tokens.”
Over the past five years, it has set an industry standard “for tokenization on various Ethereum-compatible blockchains, whether public or private, compatible with any ERC20 wallet, and has been actively utilized on networks like Ethereum, Polygon, and Avalanche.”
The ERC3643 Association represents “a joint effort among key industry players, aiming to foster the global adoption of the ERC-3643 token standard.”
This initiative focuses on the tokenization of Real-World Assets (RWA), “aiming to eliminate silos and ensure interoperability across different platforms and systems.”
Jürgen Hofbauer, Global Head of Strategic Partnerships at Taurus, said their decision was a strategic move that will help with the adoption of tokenization.
By supporting an open architecture, Taurus offers its clients “the flexibility to select the most efficient technology for their needs without compatibility limitations while also ensuring that their investments are future-proof and adaptable to emerging standards.”
Dennis O’Connell, President of the ERC3643 Association, called Taurus an ideal partner to promote the standard.
As noted in the update, the ERC3643 Association is “a non-profit organization regrouping industry leaders within a shared mission to advance the adoption of the ERC3643 standard and promote the development of a standardized, secure, and compliant tokenization framework.”
The association brings together “the expertise and resources of its members to foster collaboration, drive innovation, and create a more inclusive, efficient, and secure financial landscape. By supporting the widespread adoption of the ERC3643 standard, the association aims to unlock the full potential of tokenization and pave the way for a new era of global asset management.”
As mentioned in the announcement, Taurus SA is “a Swiss FinTech, founded in April 2018, that provides enterprise-grade digital asset infrastructure to create, custody, and trade any digital assets, including cryptocurrencies, tokenized assets, NFTs, and digital currencies.”
Taurus is a global leader in “the banking segment, entrusted by the full spectrum of financial institutions: systemic banks, universal banks, online banks, crypto-banks, private banks, and broker-dealers. Taurus also operates a marketplace for private assets and tokenized securities. Taurus SA is a securities firm supervised and regulated by FINMA. TDX is an organized trading facility operated by Taurus.”