Taurus, a digital asset custody platform supported by Deutsche Bank, has partnered with Stellar Network to advance its tokenization plans. This collaboration is significant for Stellar’s native token XLM, as Stellar has been accommodating mainstream firms exploring Real-World Asset (RWA) tokenization.
Recently, Taurus integrated into the Stellar ecosystem to enhance RWA tokenization. This integration allows banks and issuers to create and manage tokenized assets on the Stellar network. The collaboration includes the availability of “Taurus-PROTECT” for custody and “Taurus-CAPITAL” for issuance and tokenization on Stellar’s public blockchain.
Jürgen Hofbauer, Head of Global Strategic Partnerships at Taurus, expressed excitement for the partnership, highlighting the benefits for banking and non-banking clients. The integration with Stellar aligns with Taurus’ strategic growth plans and allows for reduced fees and fast transactions across various tokenization use cases.
Taurus’ move into Stellar follows other financial giants like Franklin Templeton, WisdomTree, and Circle, who have embraced the network for tokenization purposes. With these developments, the asset manager aims to position itself as a leading provider of passive exposure using blockchain-based solutions.
As the Stellar ecosystem continues to accommodate leading platforms like Taurus, there is speculation about the impact on the price of XLM. Currently trading at $0.09068, XLM has shown an increase of 4.4% in the past 24 hours, with a trading volume exceeding $70 million. With Taurus gaining dominance and support from institutions like Deutsche Bank, integrating with Stellar could drive increased adoption and demand for XLM, potentially leading to a surge in its price.