Franklin

Flash

Polygon

Propel

Stellar

<ul>
 <li>Custody startup Taurus is advancing its tokenization plans in partnership with Stellar Network.</li>
 <li>Stellar has started accommodating a lot of mainstream firms exploring RWA tokenization, which is a major boost for XLM.</li>
</ul>
Taurus, a digital asset custody platform supported by Deutsche Bank, was recently <a href="https://x.com/StellarOrg/status/1805286394480443770" target="_blank" rel="noopener noreferrer nofollow">integrated</a> into the Stellar ecosystem for enhanced Real-World Asset (RWA) tokenization. This collaboration holds promise for Stellar native token XLM,&nbsp; leading to discussions surrounding a new All-Time High (ATH).
<iframe title="Deutsche Bank-Supported Taurus Expands to Stellar: Will XLM Hit New Highs?" width="788" height="443" src="https://www.youtube.com/embed/W4v2ODBFJog?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h3 id="b-taurus-expands-tokenization-efforts-with-stellar-partnership-b">Taurus Expands Tokenization Efforts With Stellar Partnership</h3>
Beginning Monday, “Taurus-PROTECT” for custody and “Taurus-CAPITAL” for issuance and tokenization became available on Stellar’s public blockchain. As a result of this integration,&nbsp; banks and issuers can now create and manage any tokenized asset on the Stellar network.&nbsp;
<blockquote class="twitter-tweet">
 Welcoming <a href="https://twitter.com/taurus_hq?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@taurus_hq</a> to the Stellar ecosystem! Collaboration powers real-world asset tokenization, and this partnership is another big leap toward mass adoption.<a href="https://t.co/0Uck6tSV88" rel="noopener noreferrer nofollow">https://t.co/0Uck6tSV88</a>
 — Stellar (@StellarOrg) <a href="https://twitter.com/StellarOrg/status/1805286394480443770?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 24, 2024</a>
</blockquote>
This empowers them to fully customize and automate payment processes with features like programmable wallets and secure access controls. Moreover, Stellar boasts faster transaction processing times than some popular blockchains, enabling efficient management of tokenized assets on Taurus.
Jürgen Hofbauer,&nbsp; Head of Global Strategic Partnerships at Taurus, expressed excitement for the partnership, stating:
<blockquote>
 Our banking and non-banking clients can now benefit from reduced fees and fast transactions, optimizing efficiency across a variety of tokenization use cases such as equity, debt, structured products, funds, tokenized deposits, and CBDCs.
</blockquote>
Hofbauer added that the integration with Stellar aligns perfectly with the platform’s strategic growth plans. Taurus already supports over 20 blockchains through its custody product. Before this announcement, its tokenization service primarily focused on Ethereum and Tezos.
In January, Taurus received regulatory approval from the Swiss Financial Market Supervisory Authority to enable retail users to trade tokenized securities. Leveraging insights from earlier <a href="https://www.crypto-news-flash.com/deutsche-bank-backed-taurus-extends-tdx-platform-for-bitcoin-and-ripple-xrp-retail-investors-amid-tokenisation-surge/" target="_blank" rel="noopener noreferrer nofollow">Crypto News Flash reports</a>, the move aligns with experts’ projection of a substantial growth in tokenization this year.
Taurus’ move into Stellar follows other financial giants like Franklin Templeton, WisdomTree, and Circle, who have already embraced the network for tokenization purposes. Franklin Templeton, for example, launched the BENJI token, the first on-chain U.S. Government Money Fund on both Stellar and Polygon blockchains. As previously <a href="https://www.crypto-news-flash.com/franklin-templeton-makes-waves-with-380-million-treasuries-fund-tokenization-on-polygon-and-stellar/" target="_blank" rel="noopener noreferrer nofollow">reported by Crypto News Flash</a>, the launch involves using the tokens to facilitate direct, intermediary-free transactions.
Similarly, WisdomTree utilizes Stellar for its personal finance app, offering access to digital assets and funds. The ETF Sponsor <a href="https://www.crypto-news-flash.com/billion-dollar-fund-from-industry-giant-wisdomtree-to-utilize-stellar-blockchain-and-revolutionary-updates-can-xlm-price-surge-to-0-15/" rel="noopener noreferrer nofollow">launched its first open-end fund</a> with tokenized share records on the Stellar blockchain in 2023. With these developments, the asset manager aims to cement its position as a leading provider of passive exposure using blockchain-based solutions.
<h3 id="b-can-xlm-see-a-new-ath-b">Can XLM See a New ATH?</h3>
As the Stellar ecosystem continues to accommodate leading platforms like Taurus, the impact on the price of XLM remains a topic of interest. At the time of this writing, XLM is trading at $0.09068, demonstrating an increase of 4.4% in the past 24 hours. The trading volume also increased by 13% to over $70 million.

<div class="cryptoboxes" id="mcw-435425" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="stellar" data-symbol="XLM" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="day" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div>
Given Taurus’ increasing dominance and <a href="https://www.crypto-news-flash.com/big-adoption-wave-incoming-deutsche-bank-and-credit-suisse-invest-in-crypto-startup-taurus-to-expand-in-billion-markets/" target="_blank" rel="noopener noreferrer nofollow">support from leading financial institutions</a> like the Deutsche Bank, integrating with Stellar could generate increased attention and adoption. This could potentially lead to a surge in demand for XLM and drive its price to new heights.

Deutsche Bank-backed Taurus Expands into Stellar for Asset Tokenization: Can It Propel XLM Price to a New ATH?

Innholdsfortegnelse

Crypto News Flash

Andre artikler publisert på 25. juni 2024

The Crypto Market is Collapsing: Chainlink and Bitcoin Cash in Free Fall! Here’s Why Investing in...

BigPump Price Prediction - Is $PUMP Dead, Best New Meme Coins To Watch

88% APY Staking Rewards with Moonbag’s Triumph Amid AVAX and AAVE Survival Battle

From Zero to Hero: The Tokens Making Millionaires!: Bitgert, Notcoin, Biaoqing, Dogwifhat

Promontory Technologies Goes Live for External/LP Investors

ZkSync Token Launch Doesn't Bring Excitement as Expected as Price Continues to Drop

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!