Taurus Expands Cryptocurrency Custody Services to Turkey
Cryptocurrency custody firm Taurus, which has established partnerships with major financial institutions such as Deutsche Bank and State Street, has recently expanded its operations into Turkey. This strategic move enables Taurus to provide advanced custody services to BankPozitif, an Istanbul-based bank. This marks a significant milestone as it is the first instance of a Turkish bank implementing institutional-grade digital asset infrastructure.
As part of this collaboration, BankPozitif will utilize Taurus’ flagship custody solution, which is designed to enhance security and efficiency in managing digital assets. Additionally, the bank will leverage Taurus’ innovative “EXPLORER” service, which offers robust blockchain node and indexing infrastructure. This technology will facilitate the bank’s connectivity to both public and permissioned blockchains, ensuring a seamless integration into the evolving landscape of digital finance.
According to Lamine Brahmi, co-founder of Taurus, Turkey presents a uniquely promising market for digital asset services. Brahmi highlighted the country’s high adoption rates, increasing institutional interest, and constructive regulatory frameworks as ideal conditions for the growth of digital asset banking. These factors contribute to a conducive environment for embracing cryptocurrency solutions.
Moreover, the economic challenges faced by Turkey in recent years have significantly accelerated crypto adoption among its citizens. Many individuals have turned to cryptocurrency as a viable alternative to safeguard their wealth in the face of persistent double-digit inflation rates. This trend underscores the growing importance of digital assets in providing financial stability and security in times of economic uncertainty.
