$7 Billion Turkish BankPozitif Partners with Taurus for Crypto Custody to Meet Surging Demand Sead Fadilpašić | usagoldmines.com

Turkish digital bank BankPozitif has announced a strategic partnership with Taurus SA, a Swiss digital asset infrastructure provider backed by Deutsche Bank and Credit Suisse.

Per the press release shared with Cryptonews, Taurus has opened an office in Istanbul. The new collaboration will enable the investment bank to expand its capabilities into digital assets and cryptocurrency services.

To accomplish this, BankPozitif will implement two of Taurus’ flagship solutions. The first is Taurus-PROTECT, a digital asset custody platform for crypto, tokenized assets, and digital currencies. The team notes that this platform is available in “hot, warm, and cold configurations.”

The other key solution is the Taurus-EXPLORER. This is a comprehensive blockchain node and indexing infrastructure that allows connectivity to both public and permissioned blockchains.

Therefore, thanks to this implementation, BankPozitif will be able to offer institutional-grade digital asset services to meet the increasing demand from both retail and corporate clients. At the same time, it will be able to maintain the security and compliance standards demanded by the evolving Turkish regulations.

BankPozitif is a financial institution with over 25 years of experience, a loan contribution exceeding $7 billion, and over 2 million customers. Now it works to offer “stronger and more innovative financial solutions in the field of digital banking in line with its renewed vision,” the press release said.

Erkan Kork, Chairman of BankPozitif, commented that the bank is focusing on innovative products and is working to expand its investments in digitalization. Therefore, the partnership with Taurus “represents a significant step in our digital transformation journey,” he said.

“By implementing Taurus’ cutting-edge infrastructure, we’re positioning BankPozitif to meet growing institutional demand for digital asset services,” Kork stated.

Meanwhile, in March 2024, Taurus partnered with Turkish Misyon Bank, enabling it to leverage its digital asset custody and tokenization technology.

Türkiye’s Fintech Sector Surges

The press release noted the fast evolution of Türkiye’s digital asset sector, the advancement of the related regulations, as well as the fintech sector experiencing “record growth.”

In Türkiye’s digital asset landscape, said the announcement, the “growing institutional demand is driving the need for sophisticated banking infrastructure.”

Bashir Kazour, Managing Director at Taurus, described Türkiye as one of the world’s most exciting markets for digital assets. BankPozitif’s Chairman Kork added that the Turkish banking sector has reached 30 trillion Turkish Liras, noting “unprecedented opportunities in fintech innovation.”

Furthermore, the country rose to be one of the top crypto adopters globally with 26 million active users, per Statista. The projected revenue in the country’s crypto market is likely to reach $1.7 billion in 2025, the same report notes.

According to Lamine Brahimi, Managing Partner at Taurus, “the combination of high adoption rates, increasing institutional interest, and constructive regulatory frameworks creates good conditions for innovation in digital asset banking.”

Though the partnership with BankPozitif, Taurus aims to support Türkiye’s goals in the digital asset space, Brahimi added.

Meanwhile, Türkiye has seen a significant uptick in interest from crypto companies that want to establish operations in the increasingly crypto-beneficial nation. Dozens of companies have applied for licenses under the regulations implemented last year.

The ‘Law on Amendments to the Capital Markets Law’ officially came into effect on 2 July 2024, aiming to establish a regulatory framework for crypto asset service providers operating in Turkey.

Also, in late December 2024, Türkiye revealed that it would implement stringent crypto regulations in early 2025 in order to tighten anti-money laundering (AML) frameworks and align with global standards. Türkiye’s Travel Rule came into effect in February, applying to all transactions, with data verification for transactions over 15,000 TL.

The post $7 Billion Turkish BankPozitif Partners with Taurus for Crypto Custody to Meet Surging Demand appeared first on Cryptonews.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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