Taurus enables Turkish Misyon Bank’s foray into digital assets

Misyon Bank, a pioneering neobank in Turkey and an investment banking firm, is expanding its services into digital asset custody and tokenization. To achieve this, the bank has partnered with Swiss cryptocurrency custody provider, Taurus. The collaboration, facilitated by Misyon’s subsidiary MisyonTech, will enable the bank to offer digital asset custody and tokenization services. The bank will utilize various solutions developed by Taurus, including the Taurus Protect custody platform, the Taurus Capital tokenization tool, and the Taurus Explorer blockchain node infrastructure. Taurus is renowned for its custody services, having provided them to major European banks such as Banco Santander and Credit Suisse. In fact, Credit Suisse led a $65 million Series B raise for Taurus in February 2023. Misyon Bank CEO Önder Halisdemir sees the partnership as a significant step towards positioning Turkey as the “Switzerland of its region.” The collaboration aims to make Turkish assets accessible to global investors through tokenization. Halisdemir added that local solutions for digital assets will be developed in collaboration with Istanbul Technical University and KPMG. However, it is unclear whether the partnership will involve the addition of cryptocurrencies like Bitcoin directly to the Misyon platform. Despite reaching out to Misyon and Taurus for comment on the crypto aspect of the collaboration, Cointelegraph had not received a response at the time of publication. Turkey has emerged as a prominent player in the crypto space, ranking fourth globally in terms of crypto transaction volumes in 2023, with $170 billion. Misyon Bank and Taurus believe that their partnership will pave the way for increased institutional activity in the region. Taurus co-founder Lamine Brahimi expressed confidence in the collaboration, stating that it could establish Turkey as a leading player in digital asset custody and tokenization within the region.