Fintech Companies TAURUS and Parafin participated in providing infrastructure for financial institutions in Europe and Latin America – a step aimed at accelerating the adoption of encryption and settlement custody services in both regions.
As part of the partnership, Taurus merged the wing of its products on the Parafin Institutional Platform, creating a comprehensive solution to the management of digital assets, including custody and governance and issuing the compatible distinctive symbol, according to May 27.
Financial institutions that use the integrated TAURUS-PARAFIN solution will be able to access the nursery services and the distinctive symbol and implement a actual wallet and a full range of trading capabilities.
Taurus is The Foundation’s Nursery Civilization Corporation And solve the distinctive symbol that enables companies to issue, store and trade a set of encryption products.
Paraffin, in contrast, is not an original company. Instead, it provides financial infrastructure and commercial services to small companies. In December, the company’s value was 750 million dollars after a financing round in the late stage of $ 100 million.
The Taurus said that the Paravin partnership gives it more deeply in Latin America, which is a known area Increased encryption dependence.
Related to: Turkish Digital Bank to become the first time in Crypto Custody with Taurus
Institutional interest in bitcoin and encryption grows
While the relationship between financial institutions and digital assets was complicated and evolved, it has stimulated a wave of positive organizational developments in the United States and the world a wider adoption.
Banks are increasingly providing nurseries for digital assets, while some institutions are now Facilitate the trading of encryption and investment. Many large banks, Including jpmorganI also tried with Blockchain technology.
An important turning point came in April, when the US Federal Reserve eased the restrictions imposed on financial institutions participating in encrypted currency activities. Bitcoin (BTCLawyer Michael Celor called this step Main teacher For banks looking to support digital assets.
On May 23, the Wall Street Journal reported this A group of major banksIncluding Bank of America, Wells Fargo, Citigroup and JPMorgan, they are probably discussed.
The report appeared amid increasing speculation that the American banking sector sees Stablecoins holders as a possible threat For her traditional business models.
Related to: Bitcoin’s institutional purchase may be close to retail – length panel
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