Bitcoin

Security

Spot

Quick take: 
<ul> 
 <li>Elliptic has teamed up with Taurus to enable banking-grade security and compliance for institutional clients.</li> 
 <li>Taurus will integrate Elliptic’s wallet screening tools to boost KYC and AML procedures.</li> 
 <li>The partnership is aimed at banks and financial institutions looking to offer tokenised assets to their customers.</li> 
</ul> 
Elliptic has announced a partnership with European digital asset custody solutions provider Taurus to enable institutional-grade security and compliance for banks and institutional clients.&nbsp; 
As a part of the partnership, Taurus will integrate Elliptic’s wallet-screening enabling it to seamlessly comply with Know Your Customer (KYC) requirements and Anti-Money Laundering (AML) protocols as well as, fraud risk regulations and all applicable laws.&nbsp; 
Commenting on the partnership, Juergen Hofbauer, Global Head of Strategic Partnerships at Taurus <a href="https://www.elliptic.co/media-center/elliptic-partners-with-taurus-to-provide-industry-leading-security-and-compliance-for-banks-and-corporates" target="_blank" rel="noreferrer noopener">said</a>: “Elliptic is one of the leading blockchain analytics providers for banks. We are pleased to integrate Elliptic Lens and compliance solutions to provide greater transparency to our banking and consumer brands clients.” 
The two companies are creating a framework for financial institutions and banks to offer digital asset investment opportunities to their clients without breaching any applicable laws and regulations. 
Banks are increasingly embracing crypto asset solutions, with multiple investment management service providers looking to expand their portfolio of products. BlackRock, Bitwise, and Invesco are all waiting for the Securities Exchange Commission to approve their applications for a Spot Bitcoin ETF. 
Elsewhere, <a href="https://www.nftgators.com/citigroup-doubles-down-on-crypto-with-private-token-services-for-institutional-clients/">Citigroup</a> and <a href="https://www.nftgators.com/jpmorgans-digital-assets-product-onyx-processing-up-to-2b-daily/">JPMorgan</a> have both launched private token networks enabling institutional clients like banks to offer tokenised products. On the other hand, <a href="https://www.nftgators.com/early-paypal-investor-doubts-the-payment-giants-ability-to-disrupt-the-stablecoin-space/">PayPal</a> now has its own stablecoin (PYSUD). 
“As financial institutions transition to conducting more traditional financial activities on-chain, it is critical that they leverage all the necessary compliance tools and infrastructure to meet regulatory compliance requirements,” Elliptic wrote in a statement on Tuesday. 
This integration will make it easier for banks and corporations to perform due diligence on crypto wallets to prevent money laundering, comply with sanctions, and combat fraud — even before transactions are actually executed. 
Jackson Hull, Chief Technology Officer at Elliptic commented: “This strategic integration means that Taurus can leverage Elliptic’s best-in-class dataset, helping customers automatically detect and remove high-risk transactions on their own terms as they occur.” 
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The post <a rel="nofollow" href="https://www.nftgators.com/elliptic-partners-crypto-custody-provider-taurus-to-enable-institutional-grade-security-and-compliance">Elliptic Partners Crypto Custody Provider Taurus to Enable Institutional-Grade Security and Compliance</a> appeared first on <a rel="nofollow" href="https://www.nftgators.com">NFTgators </a>.

Elliptic Partners Crypto Custody Provider Taurus to Enable Institutional-Grade Security and Compliance

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