Taurus Expands Services to Turkey

Cryptocurrency custody firm Taurus, known for serving clients like Deutsche Bank and State Street, has expanded its operations to Turkey.

Taurus is now providing custody services to Istanbul-based BankPozitif, marking a milestone as it is the first Turkish bank to implement institutional-grade digital asset infrastructure, according to an announcement made via email on Tuesday.

In addition to employing Taurus’ primary custody tool, BankPozitif will utilize the “EXPLORER” service, which offers blockchain node and indexing infrastructure. This allows the bank to connect with both public and permissioned blockchains.

Taurus views Turkey as a promising market, as co-founder Lamine Brahmi noted the country’s “high adoption rates, increasing institutional interest, and constructive regulatory frameworks,” which create favorable conditions for digital asset banking.

Recent economic challenges in Turkey have also driven heightened crypto adoption, with individuals turning to cryptocurrency as a safeguard against double-digit inflation.

Read More: Custody Firm Taurus Partners With Temenos Bringing Crypto Wallets to Thousands of Banks