Update March 27: Misyon Bank and Taurus have joined forces to offer crypto custody services for digital assets like Bitcoin and Ether in the initial phase of their collaboration.
Leading the way in digital transformation, Misyon Bank, a pioneering neobank in Turkey, has partnered with Swiss cryptocurrency custody provider Taurus to venture into the world of digital asset custody and tokenization.
Through a strategic agreement, Misyon Bank will integrate Taurus’ cutting-edge technology to provide crypto custody and tokenization services within its platform. Initially, the custody service will support Bitcoin (BTC), Ether (ETH), and Avalanche (AVA), with plans to incorporate other important cryptocurrencies offered by Taurus in subsequent phases, as confirmed by a spokesperson for Misyon Bank.
The announcement was made on March 26 by Misyon, emphasizing that the collaboration is facilitated through its subsidiary, MisyonTech. By leveraging various solutions developed by Taurus, such as the Taurus Protect custody platform, Taurus Capital tokenization tool, and Taurus Explorer blockchain node infrastructure, Misyon aims to establish a robust digital ecosystem for its clients.
Taurus, known for its reliable custody services, has catered to major European banks like Banco Santander and Credit Suisse, the latter also being a significant investor in Taurus. This collaboration has the potential to revolutionize the digital asset landscape in Turkey and beyond.
Highlighting the strategic significance of the partnership, Misyon Bank CEO Önder Halisdemir envisions positioning Turkey as the “Switzerland of its region” through tokenization of local assets for global investors. Collaborating with Istanbul Technical University and KPMG, Misyon is focused on developing local solutions tailored for the digital asset market.
While specific details about adding cryptocurrencies like Bitcoin directly to the Misyon platform were not disclosed, the partnership signals a new era for institutional involvement in the rapidly growing Turkish crypto economy.
Turkey has emerged as a key player in the global crypto market, ranking fourth in terms of transaction volumes in 2023, trailing only behind the US, India, and the UK. Misyon Bank and Taurus believe that their alliance will pave the way for increased institutional engagement in the region, positioning Turkey as a hub for digital asset custody and tokenization.
Expressing confidence in the collaboration, Taurus co-founder Lamine Brahimi praised the expertise of the Misyon and MisyonTech teams, underscoring the potential for Turkey to become a leader in digital asset management within the region.
In the realm of crypto news, Asia Express highlights developments like the $383M investment in a Hong Kong crypto hub, expanding APAC exchanges, and the integration of the Digital Yuan bridge.