#What is the significance of the partnership between Taurus and Blockdaemon?
The collaboration between Taurus, a prominent provider of digital asset infrastructure, and Blockdaemon, known for enabling institutional staking across more than 60 protocols, represents a pivotal advancement in the staking landscape for global banks and financial institutions. Through this partnership, clients of Taurus can stake their assets on leading proof-of-stake networks while securely holding their assets using Taurus-PROTECT, which is specifically designed for bank-related custody.
Taurus enhances its service offerings by integrating Blockdaemon’s extensive staking capabilities, allowing institutional clients to benefit from an expanded array of staking services. This integration meets the highest standards for security and compliance that banks expect in a digital asset environment. By offering these services, banks gain the ability to participate in emerging digital asset markets, thereby enhancing their portfolios and investment strategies.
#How does this collaboration address institutional needs in staking?
Institutional staking has unique requirements. Financial institutions demand high availability coupled with robust security and governance frameworks. The Chief Revenue Officer at Blockdaemon highlights that integrating their technology with Taurus allows banks and regulated financial institutions to effortlessly access various staking, earning, and multi-network services while ensuring the security of their assets. This partnership not only supports operational resilience but also maintains oversight policies and guarantees complete asset ownership across multiple proof-of-stake networks.
This collaboration opens the door for banks to engage with digital assets in a thoroughly secure environment. By leveraging Taurus and Blockdaemon's joint capabilities, financial institutions can effectively respond to the growing demand for digital asset participation without compromising on safety or regulatory compliance. This is a crucial step towards making digital asset investing mainstream for banks and larger financial entities, delivering strategic advantages in a rapidly evolving market.