- Taurus SA has established an office in Istanbul to strengthen its presence in Türkiye’s digital asset market.
- BankPozitif integrates Taurus-PROTECT and Taurus-EXPLORER to enhance crypto custody and blockchain services under new regulations.
- With 26 million crypto users in Türkiye, financial institutions are rapidly adopting blockchain-based services to meet demand.
The Turkish banking institution BankPozitif has formed a strategic alliance with Taurus SA, which provides digital asset infrastructure services from Switzerland. BankPozitif has partnered with Taurus SA to increase digital asset services throughout Türkiye while satisfying growing institutional needs regarding crypto custody and tokenization features.
Taurus established an Istanbul office to expand its business operations in the Turkish market according to a published statement. BankPozitif plans to implement Taurus’s blockchain infrastructure solutions together with digital asset custody within its business operations.
The bank expects this move will strengthen its digital banking and cryptocurrency services capabilities as well as meet the requirements of evolving regulatory frameworks.
Implementation of Taurus-PROTECT and Taurus-EXPLORER
Under the terms of their agreement, BankPozitif will use Taurus-PROTECT to secure their digital assets as well as tokenized securities and cryptocurrencies. Financial institutions that operate under the custody service can select from hot, warm, and cold storage configurations to match their security requirements.
BankPozitif will implement Taurus-EXPLORER for blockchain node and indexing infrastructure integration. The connectivity solution gives users access to both public blockchain networks and private blockchain deployments so that they can operate with decentralized systems. BankPozitif can improve its blockchain service delivery capabilities by implementing this system, which also meets current regulatory standards.
The bank plans to deliver both digital asset services and security compliance through the deployment of these solutions to meet rising institutional digital asset service needs. The trend of financial institutions within Türkiye is demonstrating an increasing adoption of blockchain-based services to address rising market demand.
The global digital asset market places Türkiye amongst its most vibrant markets as Statista reports that approximately 26 million users participate in digital transaction activities. The nation has implemented regulatory standards to control and oversee the developing industry.
A regulatory structure for digital asset service providers entered into force through the ‘Law on Amendments to the Capital Markets Law’ which became effective during July 2024. These new rules seek to protect investors better and boost money laundering compliance and offer business operators legal certainty within the sector.
Expansion of Crypto Services in Türkiye
BankPozitif operates as a digital asset services leader through its renowned financial expertise from 25 years along with $7 billion worth of loan contributions. Board Director Erkan Kork declared the bank will enhance its digital transformation through innovative financial solutions which support strategic developments. According to him, the partnership with Taurus serves as an essential move to fulfill these objectives.
The investment company Taurus continues its expansion throughout Türkiye by receiving support from financial institutions including Deutsche Bank and Credit Suisse. The new alliance formed between Misyon Bank and Taurus Marketing entered force during March of 2024 to enable digital asset management and tokenization options. BankPozitif’s recent alignment with Taurus demonstrates the business’s dedication to serve the evolving needs of the local financial market.
Taurus Managing Partner Lamine Brahimi identifies cryptocurrency adoption at a high level and institutional partners and regulatory improvements that establish excellent conditions for digital asset innovation in Türkiye. The company will exploit these advantageous conditions through partnerships with important banking institutions throughout the region.
Turkish fintech has expanded rapidly because digital asset demand among consumers increases while the regulatory system improves toward worldwide benchmarks. The partnership between BankPozitif and Taurus will direct the development of digital asset services in Turkey because financial institutions need such deals to build blockchain-based operations.
