Taurus Expands to UAE Amidst Tokenization Surge
Taurus, a Swiss-based crypto company, has announced its plans to open a new office in the United Arab Emirates (UAE) in response to the growing interest in tokenized real-world assets (RWAs) and the expected growth in Dubai’s real estate market. With an anticipated 15% increase in Dubai’s housing industry in 2024, Taurus is strategically positioning itself to capitalize on this trend.
The managing director of Taurus, Bashir Kazour, emphasized that Dubai’s influx of foreign investment and clear crypto regulations make it an ideal location for tokenization to thrive. The company’s expertise in custody and tokenization aligns with the needs of the region, as it aims to deliver cutting-edge and compliant solutions to the market.
“Taurus is well-known for its unique custody and tokenization capabilities serving banking clients and large enterprises, which aligns perfectly with the needs of the region. We’ve already started interacting closely with regulators, central banks, and clients and I’m looking forward to delivering cutting-edge and compliant solutions to the market.”
Bashir Kazour, Taurus managing director
Tokenization Trend Gains Momentum
Tokenization and RWAs on blockchain ledgers have garnered attention as the total RWA market cap surpassed $1 billion. This surge has been fueled by protocols like Maple and Pendle Finance, which saw gains during a broader price rally for cryptocurrencies. Major players in the industry, such as Coinbase and JPMorgan, foresee tokenization as a crucial part of the digital asset landscape by 2025.
Hot Take: Taurus’ Strategic Move in Response to Growing Tokenization Trend
Taurus’ decision to establish a presence in the UAE reflects a proactive approach to capitalize on the rising interest in tokenized assets within the region. As tokenization continues to gain traction globally, this strategic move positions Taurus at the forefront of emerging digital asset trends. With Dubai’s real estate market poised for significant growth, Taurus is well-positioned to leverage this opportunity and provide innovative solutions to meet market demand.
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