Bitcoin
$37,768.75-0.86%
Ethereum
$2,032.79-1.53%
Binance Coin
$226.48-1.15%
XRP
$0.60786198-0.63%
Solana
$59.87+3.36%
Cardano
$0.38636182+0.09%
Dogecoin
$0.08124603+0.50%
Tron
$0.10851714+4.63%
Toncoin
$2.42-1.89%
Chainlink
$14.63+0.30%
Avalanche
$20.99+1.60%
Polygon
$0.75715991+0.58%
PlayIconNav
Crypto Prices CoinDesk Market Index CoinDesk Market Index
Markets

Digital Assets Firm Taurus Integrates Aave Protocol to Improve Banking Access to DeFi

Taurus Group said it has integrated the Aave Protocols’ version 1 and 2.

By Tanzeel Akhtar
AccessTimeIconMar 8, 2021 at 5:45 p.m. UTC
Updated Sep 14, 2021 at 12:22 p.m. UTC
Aave defi banking

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.