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Taurus-PROTECT in production with Arab Bank Switzerland

Taurus-PROTECT in production with Arab Bank Switzerland
Geneva – Zurich: Taurus SA (Taurus), a Swiss company specialized in digital assets, is pleased to announce that Taurus- PROTECT, its cold storage solution for exchanges, banks and institutional clients, has been successfully deployed with Arab Bank Switzerland. This represents a premiere for the Geneva financial center and consolidates the leadership position of Taurus in the Swiss market.

Taurus has been collaborating throughout 2019 with Arab Bank Switzerland to integrate Taurus-PROTECT with the Bank’s infrastructure. In addition to technological and security aspects, the Taurus team has also been involved in architecting and implementing, together with Arab Bank experts, the Bank’s digital assets target operating model, including necessary business, regulatory, risk, and operational policies and procedures.

Sébastien Dessimoz, co-founder of Taurus SA: "The go-live at Arab Bank Switzerland represents an important milestone for the Geneva financial center. I am very proud of our Taurus team which proved again that we master technology and security, as well as all required financial services and regulatory dimensions needed to build a banking-grade, compliant, digital assets offering."

Rani Jabban, Member of Arab Bank Switzerland Executive Committee: “Entering the digital assets space was a strategic decision for Arab Bank Switzerland. We have now a fully compliant and scalable infrastructure that we will use to provide institutional-grade digital assets services to our clients in complement to our traditional wealth management, asset management and credit solutions. We identified Taurus as the go-to partner to build our new offering and look forward to continuing our collaboration.

Taurus-PROTECT is an on-premise cold storage solution that uses FIPS 140- 2 level 3 certified hardware security modules (HSMs), some of the most secure hardware in the world. It has been developed internally by Taurus and is the leading solution in Switzerland. Elca, the leading independent Swiss IT company, acted as Taurus’ integration partner.

About Taurus SA

Taurus SA was founded in April 2018 in Geneva, specialising in digital assets and blockchain. It was founded by senior executives with a background in banking, asset management, regulatory, and cybersecurity. Taurus offers enterprise-grade market infrastructure solutions for digital assets as well as other financial services to institutional clients.

For more information, please visit: https://www.taurushq.com

Media relations:

  • media@taurusgroup.ch
  • M. Christophe Lamps, Senior Partner Dynamics, cla@dynamicsgroup.ch (+41 79 476 26 87)

About Arab Bank Switzerland

Arab Bank (Switzerland) Ltd. was launched in Zug in 1962 to create a bridge between the Middle East and the Western World. The bank has become a trusted partner for high net worth individuals, including business leaders and family entrepreneurs in the MENA region for more than 50 years. It is the sister company of Arab Bank Plc, one of the biggest banks in the Middle East.

For more information, please visit: https://www.arabbank.ch