Leading digital asset infrastructure provider, Taurus has partnered with Hashgraph Association, a renowned non-profit organization. The digital asset firm confirmed the development in a blog post, stating that the partnership would drive the global adoption of Hedera’s Distributed Ledger Technology (DLT).
According to the post, Hashgraph Association is focused on integrating HBAR, the native cryptocurrency of Hedera and Hedera Token Services (HTS), into the Taurus platform. It is worth noting that Hedera Token Services is an API that facilitates the configuration, minting, and management of fungible and non-fungible tokens on the Hedera Network.
Furthermore, the integration of HBAR and HTS in Taurus will provide regulated financial institutions with secured custody, staking, and asset tokenization. In addition, these institutions would also enjoy free access to Hedera’s fast, seamless, and sustainable distributed ledger technology.
Taurus advanced technology allow users to hold and stake HBAR
It is worth noting that Taurus utilizes advanced technology to deliver expert services in digital asset custody, tokenization, and node infrastructure. As revealed, this technology will allow banks and other financial institutions to securely hold and stake HBAR while also adhering to regulatory standards.
In addition, Hedera plans to use its unique Hashgraph consensus algorithm to achieve unprecedented speed, security, and scalability. Also, its exceptionally low fee and carbon-negative impact makes it an attractive option for enterprise applications, including decentralized finance, sustainability solutions and supply chain management.
Meanwhile, the President of The Hashgraph Association, Kamal Youssefi has reacted to the partnership. He described Taurus as a world-class foundation for digital asset management. The exec added that there has been a significant increase in market sentiment, regulatory frameworks, demand for institutional-grade custody and tokenization.
The Co-Founder and Managing director of Taurus, Lamine Brahimi also gave his insight. He stated that onboarding HBAR on its platform reflects its commitment to supporting the world’s most advanced blockchain and distributed ledger technology. Brahimi added that the partnership with Hashgraph would also provide institutional clients with tools needed to store Hedera tokens.
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