Cloud-based institution ClearBank has announced a partnership with digital asset infrastructure provider Taurus. The collaboration will see ClearBank leverage Taurus-PROTECT as its wallet infrastructure provider to support digital asset services for ClearBank clients.
Taurus-PROTECT is the Swiss fintech firm’s digital asset custody platform. ClearBank states in a press release that the agreement will allow it to “leverage Taurus’ technology to advance its digital asset strategy in a secure, scalable, and compliant manner, with a focus on supporting stablecoin-related services for its clients”.
The development with Taurus is in line with an earlier partnership ClearBank announced in October last year with payments technology company Circle. The goal was to use Circle’s infrastructure to expand access to USDC and EURC, Circle’s fully reserved stablecoins that are compliant with the Markets in Crypto-Assets Regulation (MiCAR). ClearBank will be integrating Taurus-PROTECT with Circle Mint, the platform by Circle that allows financial institutions to mint and redeem USDC and EURC.
ClearBank states, “By complementing conventional payment networks with advanced solutions, stablecoin innovations could significantly improve the efficiency and cost profile of functions such as corporate payments and international remittances.”
