Misyon Bank, a top neobank in Turkey, is broadening its offerings by teaming up with Taurus, a Swiss company specializing in digital asset custody, to introduce virtual asset custody and tokenization services.

This collaboration, announced on March 26th on Taurus’ official website, will enable Misyon, through its subsidiary MisyonTech, to provide customers with digital asset custody and tokenization services using Taurus technologies.

As part of this partnership, Misyon will use Taurus-PROTECT™ for secure storage of virtual assets like cryptocurrencies, digital currencies, and tokenized assets. Moreover, Misyon will employ Taurus-CAPITAL™ to support the creation and management of tokenized digital assets, along with Taurus-EXPLORER™ blockchain nodes and indexing infrastructure to connect various blockchains.

Dr. Önder Halisdemir, the CEO of Misyon Bank, views this collaboration as a strategic step towards promoting Turkish digital assets globally through tokenization. He emphasized the significance of trading and safeguarding local and regional assets within Turkey, positioning the country as a key international investment destination.

Lamine Brahimi, Co-Founder and Managing Partner at Taurus, expressed enthusiasm for the partnership and commended the Misyon and Misyontech teams, foreseeing a positive impact on Turkey's standing in the global crypto market.

Taurus Bank, a well-known neobank in Europe, is recognized for providing custody services to major European banks like Banco Santander in Spain and global investment firm Credit Suisse.

However, Misyon's initiative is pending regulatory approval from Turkish authorities. The government has shown openness to digital asset activities as a means to address the nation's inflation challenges. Notably, OKX recently received approval to operate in Turkey and offer crypto trading services tailored to the local market.

What is the partnership between Misyon Bank and Taurus about

The partnership between Misyon Bank and Taurus focuses on establishing digital asset custody and tokenization services. Misyon Bank, a prominent Turkish neobank, has teamed up with Taurus, a Swiss digital asset custody provider, to offer secure storage custody for digital assets like cryptocurrencies, tokenized assets, and digital currencies using Taurus-PROTECT technology. Additionally, Misyon will utilize Taurus-CAPITAL for issuing and servicing tokenized assets, along with Taurus-EXPLORER blockchain nodes to connect various blockchains. This collaboration aims to make Turkish assets accessible to global investors through tokenization, safeguarding domestic and regional assets within Turkey's borders. The partnership signifies a strategic move towards advancing Turkish digital assets globally and positioning Turkey as a regional investment hub in the digital asset custody and tokenization space.