Taurus launches marketplace for digital assets after obtaining FINMA license

Please login or
register
19.04.2021
symbolic picture digital assets

Geneva-based Taurus SA received a securities firm license from the Swiss Financial Market Supervisory Authority FINMA to operate the first independent regulated marketplace for digital assets in the world. The exchange will start to operate on 10 May. Several banks and financial institutions are being onboarded.

Taurus’ Digital eXchange “TDX” is the first marketplace in the world to instantly connect banks, issuers and investors to exchange any digital asset. Through the tokenization of equity, art, real estate, crypto currencies and other assets, the new infrastructure solution is aimed at unlocking liquidity for banks, company founders and even artists, among others. TDX is built exclusively around Taurus’ cutting-edge technology.

To operate TDX and thereby complement its market-leading digital infrastructure with secondary market solutions, Taurus has been awarded a securities firm (Wertpapierhaus / maison de titres) license by FINMA allowing it to operate an organized trading facility as per art. 42 of the FinMIA. Securities firms must meet a number of requirements to obtain such an authorisation. They are subject to prudential supervision by Switzerland’s independent financial-markets regulator. Obtaining the FINMA license represents a major achievement for Taurus, as it recognizes the quality of its team and proprietary technology that has been built from scratch since 2018.

Starting May 10, 2021, securities issued by numerous companies and issuers will be admitted for trading. Several banks and financial institutions are being onboarded as participants, including, among others, Arab Bank Switzerland, FlowBank, Hypothekarbank Lenzburg and SEBA Bank, as well as Investis Group, a Swiss stock-listed real estate company, and Stoneweg, a Geneva-based real estate investment company.

In a statement Taurus comments: “In a digital asset ecosystem sometimes lacking liquidity for investors and SMEs, the regulated marketplace fills an important gap. With the Swiss DLT law that entered into force and clarified the legal regime for tokenized securities on February 1, 2021 and an increasing number of banks active in the space, we believe that all conditions are met to unlock the potential for private assets.

0Comments

More news about

Taurus SA

Company profiles on startup.ch

Taurus SA

rss