Misyon Bank, a pioneering neobank and investment banking institution in Turkey, is venturing into digital asset custody and tokenization through a partnership with Taurus, a Swiss cryptocurrency custody provider.

The Turkish neobank has entered into an agreement with Taurus to integrate its technology for offering digital asset custody and tokenization services within Misyon Bank. This collaboration, facilitated through Misyon's subsidiary MisyonTech, aims to leverage Taurus's solutions such as the custody platform Taurus Protect, tokenization tool Taurus Capital, and blockchain node infrastructure Taurus Explorer.

Taurus, renowned for providing custody services to prominent European banks like Banco Santander and Credit Suisse, has received substantial investment from Credit Suisse, leading a $65 million Series B funding round in February 2023. Misyon Bank's CEO Önder Halisdemir views the partnership with Taurus as a strategic move towards positioning Turkey as a hub for digital assets in its region.

Halisdemir highlighted the significance of enabling global investor access to Turkish assets through tokenization and emphasized the collaboration's focus on developing local digital asset solutions with the involvement of Istanbul Technical University and KPMG. He expressed optimism about Turkey becoming a center of excellence for custody services and tokenization once the local regulatory framework for digital asset custody services is finalized.

While the specifics of incorporating cryptocurrencies like Bitcoin (BTC) into the Misyon platform were not explicitly mentioned in the partnership announcement, the collaboration between Misyon and Taurus is poised to catalyze institutional activity in the region, potentially elevating Turkey's standing in digital asset custody and tokenization within its geographical sphere.

Taurus co-founder Lamine Brahimi commended Misyon and MisyonTech's expertise, expressing confidence that the partnership could establish Turkey as a key player in digital asset custody and tokenization within the region, signaling a promising future for the collaboration's impact on Turkey's digital asset landscape.

what is the partnership between Misyon bank and Taurus about

The partnership between Misyon Bank and Taurus revolves around digital asset custody and tokenization services. Misyon Bank, a Turkish neobank, has collaborated with Swiss firm Taurus to leverage Taurus's technology for providing digital asset custody and tokenization services within Misyon Bank.

This partnership, announced on March 26, aims to implement Taurus's solutions, including the custody platform Taurus Protect, the tokenization tool Taurus Capital, and the blockchain node infrastructure Taurus Explorer. The collaboration signifies Misyon Bank's strategic move into the digital asset space, facilitated by Taurus's expertise in cryptocurrency custody and technology.