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Crypto Custodian Taurus Expands Footprint to Turkey Through BankPozitif Collaboration
Turkey's economic woes have buoyed crypto adoption in recent years as users have turned to cryptocurrency as a lifeline against double-digit inflation
What to know:
- Cryptocurrency custody firm Taurus, has expanded its footprint to Turkey.
- Taurus already counts the likes of Deutsche Bank and State Street among its clients.
- Turkey represents an exciting market for Taurus, according to co-founder Lamine Brahmi, citing the country's "high adoption rates, increasing institutional interest, and constructive regulatory frameworks."
Cryptocurrency custody firm Taurus, which counts the likes of Deutsche Bank and State Street among its clients, has expanded its footprint to Turkey.
Taurus is now providing custody services to Istanbul-based BankPozitif, marking the first such time a Turkish bank has implemented institutional-grade digital asset infrastructure, according to an emailed announcement on Tuesday.
STORY CONTINUES BELOW
As well as implementing Taurus' flagship custody tool, the bank will also use its "EXPLORER" service, which provides blockchain node and indexing infrastructure, allowing it to connect to public and permissioned blockchains.
Turkey represents an exciting market for Taurus, according to co-founder Lamine Brahmi, who cited the country's "high adoption rates, increasing institutional interest, and constructive regulatory frameworks," as ideal conditions for digital asset banking.
Economic problems in Turkey has buoyed crypto adoption in recent years as users have turned to cryptocurrency as a lifeline against double-digit inflation.
Read More: Custody Firm Taurus Partners With Temenos Bringing Crypto Wallets to Thousands of Banks
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
