With the support of Deutsche Bank, Taurus and Teylor join forces to democratize access to credit for SMEs through tokenization, thus the tokens, on blockchain of debt.
The resulting tokenized asset will be listed on Taurus’ regulated market, known as “TDX”, thus creating a liquid secondary market for private debt investments. Let’s see all the details below.
Summary
Deutsche Bank in partnership for the introduction of tokens on blockchain
As anticipated, Swiss credit fintech Teylor and digital asset custody and tokenization provider Taurus present security based on the Teylor ledger, with the aim of making credit to SMEs an accessible asset class.
In particular, Teylor operates in the sector through its credit platform, creating and managing loans for SMEs.
With the tokenization of a portion of its credit portfolio on the Taurus platform and the regulated TDX market, professional Private Debt investors can now participate in returns through a secure secondary market based on blockchain.
This represents the first tokenization of a private debt portfolio based in Luxembourg.
Patrick Stäuble, CEO and founder of Teylor, explained the following:
“Our portfolio of high-quality loans to SMEs is funded through private transactions with large financial institutions. Despite requests from small family offices and individual professional investors, the typically available capital is not sufficient for private transactions. With the introduction of the Teylor ledger-based token on the TDX platform, we can now offer a standardized investment product. Professional investors can open an account and trade our security token.”
Taurus: leader in digital asset trading with FINMA license and dominance in the Swiss market
Taurus, which launched its platform in 2018, provides an institutional-grade digital asset infrastructure and holds a license regulated by the Swiss Financial Market Supervisory Authority (FINMA).
The company collaborates with financial institutions and leading companies, relying on a team with experience in collaborating with major financial institutions globally.
In addition, it holds over 50% market share in Switzerland. Among the participants in trading on TDX are mainly banks, mobile brokerage firms, and professional and institutional investors.
Lamine Brahimi, Managing Partner and Co-Founder of Taurus, stated the following:
“The private debt of SMEs has historically been considered an illiquid asset, as secondary markets are difficult to access outside the context of institutional investments. The ledger-based Teylor token now makes it possible for investors to commit smaller amounts and trade the token on our regulated TDX market. Teylor integrates well into our ecosystem of regulated financial service providers, boasting a solid track record.”
Deutsche Bank’s other collaboration to launch euro stablecoin
The asset management division of Deutsche Bank is forming a partnership with Galaxy Digital and Flow Traders to create AllUnity, a company dedicated to the fully collateralized stablecoin denominated in euros.
This collaboration combines the portfolio management expertise of DWS Group, the liquidity provision leadership of Flow Traders, and the global connectivity, together with the technical infrastructure of Galaxy Digital.
The goal of AllUnity is to provide a main regulated stablecoin denominated in euros for adoption by institutional, corporate, and private users.
The launch of AllUnity is scheduled for April 2024, in compliance with the new MiCAR laws of the European Union (EU).
This period coincides with an improvement in regulatory clarity in the digital asset space following the adoption of the Markets in Crypto-Assets Regulation (MiCAR) in the EU.
The CEO of Galaxy Digital, Mike Novogratz, emphasized that digital currencies represent the natural evolution of the global payment system. Furthermore, Europe is at the forefront of exploring secure digital money solutions.
The agreement with DWS and Flow Traders aims to introduce an open, fungible, and interoperable stablecoin denominated in euros, allowing global investors to access the growing space of digital assets.
