Swiss fintech firm Taurus Group has integrated the decentralized finance (DeFi) Aave Protocol into its asset infrastructure, allowing banks and exchanges to deposit and borrow digital assets.
- In an announcement, Taurus Group said it has integrated the Aave Protocols’ version 1 and 2 into its end-to-end digital asset infrastructure.
- Aave is a DeFi protocol used for both retail and institutional clients, providing users with a decentralized backend infrastructure for lending and borrowing.
- The Aave Protocol is being used in the Taurus Group custody product “Taurus-PROTECT" as well as its smart contract issuance and interaction platform “Taurus-CAPITAL,” allowing institutional clients to deposit, withdraw and borrow assets, and stake AAVE tokens, said the firm.
- “DeFi provides transparent, efficient and cost-effective solutions for banks to deploy their capital more effectively. We are excited to work with Taurus, who’s a leader in onboarding banks to DeFi through its secure custodian and smart contracts platforms,” said Aave CEO Stani Kulechov.