Taurus and the Hashgraph Association have teamed up to promote safe custody and tokenize and stake Hedera’s HBAR cryptocurrency globally.
Taurus, a provider of digital asset infrastructure, has joined with the Hashgraph Association, a nonprofit organization that uses Hedera Hashgraph’s decentralized ledger technology to create ecosystems.
The partnership seeks to facilitate safe storage, staking, and tokenization of Hedera’s
Cryptocurrency and other assets for financial institutions, increasing the ecosystem’s accessibility for banks and businesses worldwide (HBAR$0.3632).
“Digital assets in Europe, Asia, the Middle East, and Africa are booming,” Kamal Youssefi, president of the Hashgraph Association, said.
“With MiCA offering clear guidelines for digital assets in the region — eliminating any regulatory uncertainty that can come with markets like the US,” he said, “Europe has taken the lead on this.”
Hedera’s entry into critical international markets
Although the partnership’s emphasis on Europe, Asia, the Middle East, and Africa is driven by regulatory considerations, Youssefi claimed that from an institutional perspective, it gives “more confidence to invest in the ecosystem.”
“Given the regulatory environment in these areas, we know we can guarantee that individuals and corporations can interact with the Hedera ecosystem confidently,” he stated. “This kind of partnership helps both parties establish their presence in these areas.”
The alliance intends to grow into these areas “where regulatory frameworks have been clarified or are on the verge of being established,” Taurus co-founder and managing partner Lamine Brahimi said.
Challenges with tokenization
Youssefi stated that to preserve consistency for this “extremely complex” procedure, the onchain and off-chain problems that come with tokenizing real-world assets (RWAs) must be balanced:
“Underdeveloped regulatory frameworks and global fragmentation of regulation is a big risk associated with tokenizing RWAs, not just with Hedera but on any distributed ledger technology (DLT) or blockchain, which can give rise to questions about ownership and legal protections.”
The team is “collaborating with other stakeholders in the space” and managing risk for investors, according to Youssefi, to assist in creating frameworks that get beyond the technical obstacles that come with asset tokenization.
The Hashgraph Association investigates the potential of digital assets in Qatar.
In September 2024, the Hashgraph Association said it would collaborate with stakeholders in Qatar over the following 12 months to examine five digital asset use cases in the country.
The program will study tokenized equities, real estate, “sukuk,” – an Islamic financial instrument comparable to conventional bonds — and use cases addressing sustainability, such as carbon credits.
Hashgraph also said it would integrate customer interaction and loyalty programs to explore use cases in the country.
