Bank Syz relies on Taurus for its digital asset offering

Bank Syz, a leading innovator in Swiss banking with CHF27.6 billion under management, has collaborated with Taurus to launch its new digital asset offer in December: Syz Crypto. It will cover the safekeeping and trading of digital assets to the Bank's private, professional and institutional clients. Concretely, the Bank has integrated (i) Taurus-PROTECT, a technology that allows the custody of digital assets such as cryptocurrencies, tokenized securities as well as NFTs and (ii) Taurus-EXPLORER for the connectivity to more than 15 blockchain protocols, including Bitcoin (BTC) and Ethereum (ETH) ; which were selected by the bank to launch their services.

50% market share

With Bank Syz as a new partner, Taurus confirms its leadership in the banking segment with more than 50% market share in Switzerland. Taurus’ technology adapts smoothly to the full spectrum of institutions: from systemic banks to smaller players. Notwithstanding recent market volatility, banks and regulated players continue to demonstrate a strong interest and demand for digital assets - whether for cryptocurrencies (incl. staking) as well as asset tokenisation for which demand continues to surge.

Charles-Henry Monchau, Bank Syz CIO said: “Thanks to our partnership with Taurus, we now offer our clients the convenience of accessing the digital asset world through a regulated custodian with strong investor protection and supervision. Syz Crypto also enables our clients to get a holistic view of their traditional and digital assets in their bank reporting.”

Sebastien Dessimoz, co-founder and managing partner, Taurus said: "We are delighted to support Bank Syz, a leading innovative private bank with strong convictions in the digital assets space. We are seeing strong traction in Switzerland and Geneva in particular which is becoming a hub in the industry."

(Press release / SK)