Real-time clearing and embedded banking enabler ClearBank has joined Taurus in an agreement that will see the company using Taurus-PROTECT for its stablecoin services.
Through this move, Taurus-PROTECT is set to act as ClearBank’s wallet infrastructure provider, facilitating digital asset services for its clients. With this strategic agreement, ClearBank will be able to utilise Taurus’ technology to further optimise its digital asset approach safely and compliantly, while also directing its focus towards providing stablecoin solutions for its users.
Developed for banks and financial institutions, Taurus-PROTECT comes as part of Taurus’ end-to-end digital asset infrastructure platform. The solution offers secure safekeeping and management for a range of digital assets and can be deployed across a variety of operating models to meet regulatory and operational requirements.
Advancing into the stablecoin space
The initiative is set to allow ClearBank to benefit from the integration of Taurus-PROTECT with Circle Mint, Circle’s platform that enables financial institutions to mint and redeem MiCAR-compliant USDC and EURC. The current announcement comes on the heels of ClearBank's plans to enter the Circle Payment Network, which would allow clients to move value worldwide efficiently and with blockchain transparency.
Coming as an addition to traditional payment networks and delivering innovative solutions, stablecoin services could optimise the efficacy and cost profile of functions, including corporate payments and international remittances. Expanding on the decision to select Taurus’ services, Mark Fairless, Chief Executive Officer at ClearBank, mentioned that, as clients explore digital assets, they expect similar levels of security, resilience, and governance as they benefit from existing services. By working with Taurus-PROTECT, ClearBank receives the complaint digital asset solutions it requires, with the collaboration representing a significant step in delivering new services to clients and advancing the payments landscape.
Furthermore, Lamine Brahimi, Co-founder and Managing Partner at Taurus, stated Taurus’ commitment to supporting ClearBank as it modernises cross-border finance and further advances its operations and capabilities.
