Digital asset custody technology firm Taurus has partnered with Turkey’s BankPozitif to provide its custody technology. Swiss firm Taurus has numerous banking clients including Deutsche Bank, CACEIS, Santander and State Street.
Turkey is one of the more active cryptocurrency geographies with 26 million users, while BankPozitif services two million customers in total. Given the weakness of the Turkish lira, some clients might be looking to preserve the international value of their assets.
“As we focus on innovative products and expand our investments in digitalization, this partnership with Taurus represents a significant step in our digital transformation journey,” said Dr. Erkan Kork, Chairman of BankPozitif.
“The Turkish banking sector has reached a size of 30 trillion Turkish Liras, and we’re seeing unprecedented opportunities in fintech innovation. By implementing Taurus’ cutting-edge infrastructure, we’re positioning BankPozitif to meet growing institutional demand for digital asset services.”
This is not Taurus’ first Turkish partnership. Last year it collaborated with Misyon, a neobank startup. One of the larger and higher profile Turkish banks that is leaning into cryptocurrency in a big way is BBVA Garanti, which launched its own wallet solution last year, in addition to providing retail crypto trading services.
