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Swiss fintech firm Taurus Group is moving ahead with its digital asset marketplace after obtaining a securities license from the country's financial regulator on Monday.
A press release shared with coindesk said the company will launch its Taurus Digital Exchange (tdx) on 10 May. The platform aims to provide investors and banks with the ability to trade a number of assets, including cash securities, private assets, real estate, works of art, noncash tokens and cryptocurrencies.
'We believe that the tokenisation of real assets is the future of investment,' said Lamine Brahimi, co-founder of the Taurus group. Brahimi added that tdx targets small and medium-sized enterprises, large unlisted companies and property companies. In this sense, they will have access to "more liquidity and capital" at present only for large publicly traded companies.
The Swiss Securities Supervisory Authority has granted taurus its securities company opening the way to the establishment. Several of the country's banks have already started their integration, notably Arab Bank Switzerland, Hypothekarbank Lenzburg, Flow Bank and SEBA.
The first wave pool of Switzerland, named Alaia Bay, the private investment company Audacia and the real estate companies Investissement Group and Stoneweg are also integrated, according to the statement.
Taurus says that primary emission and direct inscriptions are possible on tdx with the platform capable of managing the central limit order books, systems for auctioning or asking for quotations based on the underlying asset and the regulatory framework. The platform is also capable of handling intelligent contracts issued over ethereum or tezos.
See also: Digital Assets Firm Taurus Integrates Aave Protocol to Improve Banking Access to DeFi
The announcement follows changes in February to the Swiss regulatory environment for tokenized securities. Within the framework of the new "dlt" law, blockchain trading has the same legal value as traditional assets. Switzerland currently shares with Singapore the role of the world's most advanced jurisdiction for crypto regulation and clarity.
Taurus only provides financial services on an “execution-only” basis to institutional, professional and high-net-worth retail clients, according to the company's website.
