Taurus

Swiss custody software that keeps keys in HSMs owned by the client bank

Custodian Founded 2018 Switzerland
Visit taurushq.com
Our score
Very good
Custody model HSMMPCSelf-custody software
Regulated Yes
Staking Yes

What is Taurus?

Company and ownership

Taurus SA, a Geneva company founded in April 2018, sells digital asset infrastructure to banks and other regulated firms. It lists 14 offices and opened its first US office in New York in October 2025 under Zack Bender. Taurus says it has more than 40 clients.

Three co-founders lead the company. Sébastien Dessimoz and Lamine Brahimi are managing partners and Oren-Olivier Puder is chairman; the leadership page names no chief executive. Arab Bank Switzerland led an $11 million Series A in April 2020 alongside the Tezos Foundation, and the co-founders remained majority shareholders. Credit Suisse then led a $65 million Series B in February 2023 with Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland and Investis, which Dessimoz described as a minority equity round.

Custody model and security

Taurus describes itself as a technology provider rather than a custodian. Banks using Taurus-PROTECT keep their keys in FIPS 140-2 Level 3 hardware security modules that they own and operate, on their own premises if they choose. Most banking clients sign with HSMs, although the platform also supports multi-party computation. Cold storage can sit behind a hardware data diode or a full physical air gap. Approval rules are verified inside a trusted execution environment.

PROTECT runs on premises, in a hybrid setup or as a managed service hosted by Taurus, where the client still controls its keys. Taurus keeps its own infrastructure in Tier III and Tier IV data centers in Switzerland and commissions at least 10 external security tests a year; it reported 11 such assessments in 2025. Deloitte completed the company's fourth consecutive ISAE 3402 Type II audit in May 2025, and Taurus holds ISO/IEC 27001 certification.

Regulation and licenses

Taurus SA has held a FINMA securities firm license since 2021. The license covers trading and brokerage, market making, acting as an issuing house, running the TDX organized trading facility, and the storage and custody of digital assets and securities. Taurus SA is a member of esisuisse, the Swiss deposit protection scheme, which covers cash deposits up to CHF 100,000 per client but not crypto assets or securities in custody. TDX clients' digital assets sit in omnibus accounts, while Taurus-PRIME clients get segregated holdings.

In the EU, Taurus (Europe) Ltd of Nicosia appears in the CySEC register under investment firm license no. 465/26, dated March 9, 2026. It covers MiFID services, tokenized DLT instruments included, with EU passporting planned. Taurus lists its MiCA license as pending.

Products and integrations

PROTECT sits beside Taurus-CAPITAL for tokenization and Taurus-PRIME for trading. Taurus-NETWORK lets member institutions pledge collateral and settle with each other; participants include Circle Mint, Crypto.com, Paymium, TRM Labs and, since June 2026, FalconX. Taurus-EXPLORER runs the node layer, with one API across more than 30 blockchains. PROTECT itself supports more than 45 blockchains, permissioned networks among them, and its 2025 additions included Base, BNB Smart Chain, Tron, Dogecoin, Canton Network and Bittensor. Staking runs through partners such as Figment, Everstake, Blockdaemon, Meria and P2P.org.

Clients named on the Taurus website include State Street, Deutsche Bank, CACEIS, KBC, Pictet, Swissquote, Zand, AMINA Bank and Misyon Bank. Developers get an API reference and SDKs in Java, Go, Python and TypeScript, and PROTECT connects to at least 10 core banking systems, Temenos among them.

Founders

Sébastien DessimozCo-founder & Managing Partner
Lamine BrahimiCo-founder & Managing Partner
Oren-Olivier PuderCo-founder & Chairman
Best for:Banks building in-house crypto custodyBroker-dealers and neobanks adding digital assetsMarket infrastructure firms issuing tokenized securitiesInstitutions that require on-premises key storage

Pros and cons

Pros

  • Client banks keep keys in FIPS 140-2 Level 3 HSMs they own and operate
  • Fully on-premises, hybrid or managed deployment
  • Deloitte ISAE 3402 Type II audit for a fourth straight year (May 2025) plus ISO/IEC 27001
  • Clients can review the source code, and Taurus commissions at least 10 external security tests a year
  • More than 45 blockchains, with staking through partners such as Figment and Blockdaemon

Cons

  • PROTECT clients act as their own custodian and carry key operations and regulatory duties
  • MiCA license still pending, and the CySEC license dates only from March 2026
  • Security page lists no SOC 2 report
  • Taurus SA holds a securities firm license rather than a bank license

Our review

4.0/5
Very good

A strong option for banks that want to run crypto custody themselves, with keys in their own HSMs and a fully on-premises install available. Taurus does not hold assets for PROTECT clients, so funds wanting a third-party custodian fall outside its model.

Security4.0
Compliance3.5
Asset support4.0
Features4.5
Support4.0

Taurus suits banks that want crypto custody inside their own walls. The client institution holds the keys, so it also carries the custody obligation and the daily key operations, while Taurus supplies the software and the HSM integration. That split works well for a bank bound by strict data residency rules. A fund or family office that wants a third party to hold its assets sits outside the PROTECT model, although Taurus SA does hold assets for its own TDX and PRIME clients.

Much of the security case can be checked from outside. Deloitte's ISAE 3402 Type II audit reached its fourth consecutive year in May 2025, and Taurus commissioned 11 third-party assessments in 2025. Clients may also read the PROTECT source code and hire their own testers. The security page lists ISAE 3402, ISO/IEC 27001, FIPS 140-2 and CMTA DACS without a SOC 2 report, a gap for US buyers used to that format.

Regulatory coverage is thinner than the client list suggests. Taurus SA's own authorization is a securities firm license, and the EU unit received its CySEC license only in March 2026, with MiCA still pending. Several large mandates also carry caveats. State Street's 2024 agreement was subject to regulatory approvals, and Deutsche Bank's custody service, built with Taurus and Bitpanda's technology unit, was reported in July 2025 as due in 2026. KBC is a live reference: its Bolero platform opened bitcoin and ether trading in February 2026 with PROTECT as the custody layer.

Breadth is the other draw. The same vendor supplies tokenization, trading, node access and an interbank settlement network, so a bank that starts with custody can add services without signing new suppliers. Taurus-NETWORK depends on counterparties joining, and FalconX and Crypto.com are among those already connected.

In November 2022 Taurus SA, as plaintiff, sued NFT platform OneOf Inc. in Delaware federal court for breach of contract over unpaid fees. Taurus fits a bank or broker-dealer that wants custody and tokenization on one stack under its own license, with the option of a fully on-premises install.

Listings are researched and drafted with AI assistance from public sources, then checked for accuracy and readability. Spot an error? Tell us. Editorial policy. Facts last checked Oct 28, 2026.
Sources (28)

Specs

Custody model HSM, MPC, Self-custody software · unverified
Clients Institutions, Corporates · unverified
Regulated Yes · unverified
Staking Yes · unverified
API access Yes · unverified
Licenses & charters FINMA securities firm license (Switzerland), CySEC MiFID investment firm license (Cyprus) · unverified
MPC Yes · unverified
Cold storage Yes · unverified

Not disclosed by the provider: KYC required, SOC 2 report, Insurance, Assets supported, Qualified custodian.

Data from the provider's website and public sources, checked Oct 28, 2026. Fees and availability change; confirm on the official site before you sign up.

Key features

Bank-owned HSM keys

Private keys sit in FIPS 140-2 Level 3 HSMs that the client institution owns and operates.

Air-gapped cold storage

Cold wallets can run behind a hardware data diode or a full physical air gap.

TEE policy engine

Transaction approval rules are verified inside a trusted execution environment.

Deployment choice

PROTECT can be installed on premises, run as a hybrid or hosted by Taurus as a managed service.

Staking

Staking covers networks including Ethereum, Solana, Tezos, Hedera and Mina through partners such as Figment and P2P.org.

Taurus-NETWORK settlement

Member institutions pledge collateral and settle with each other, with participants including Crypto.com and FalconX.

APIs and SDKs

An API reference and SDKs in Java, Go, Python and TypeScript support integration with PROTECT.

Inside Taurus

Taurus-PROTECT

Custody platform for banks that keeps keys in client-owned HSMs and supports more than 45 blockchains.

Taurus-CAPITAL

Tokenization platform for issuing and servicing digital securities and other tokenized assets.

Taurus-PRIME

Trading service run by Taurus SA, which holds PRIME client assets on a segregated basis.

Taurus-NETWORK

Interbank network for pledging collateral and settling transactions, with participants such as Crypto.com and FalconX.

Taurus-EXPLORER

Node and indexing infrastructure with a single API across more than 30 blockchains.

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FAQ

Is Taurus a qualified custodian?

Taurus describes itself as a technology provider rather than a custodian, and banks using Taurus-PROTECT keep control of their own keys. Its Geneva entity, Taurus SA, does hold digital assets for clients of its TDX trading facility and Taurus-PRIME under its FINMA securities firm license.

Is Taurus regulated, and where?

Taurus SA in Geneva has held a FINMA securities firm license since 2021 and is a member of esisuisse. Taurus (Europe) Ltd in Nicosia holds CySEC investment firm license no. 465/26, dated March 9, 2026, and Taurus lists its MiCA license as pending.

Does Taurus support staking?

Yes. Taurus-PROTECT supports staking, with 2025 updates covering Ethereum, Solana, Tezos, Hedera and Mina, and Taurus added staking partnerships with Blockdaemon and Meria in February 2026 and with P2P.org in June 2026.

How many blockchains does Taurus-PROTECT support?

Taurus says PROTECT supports more than 45 blockchains, permissioned networks included. Additions in 2025 included Base, BNB Smart Chain, Tron, Dogecoin, Canton Network and Bittensor.

What audits and certifications does Taurus have?

Deloitte completed Taurus's ISAE 3402 Type II audit for the fourth consecutive year in May 2025. Taurus also holds ISO/IEC 27001 certification and lists FIPS 140-2 Level 3 HSMs and CMTA DACS on its security page.

Who owns Taurus?

Its co-founders remained majority shareholders after the April 2020 Series A led by Arab Bank Switzerland. The $65 million Series B in February 2023, led by Credit Suisse with Deutsche Bank and Pictet Group among the investors, was a minority equity round.

Can a bank run Taurus-PROTECT on its own infrastructure?

Yes. PROTECT can be installed fully on premises, run as a hybrid or used as a managed service hosted by Taurus, and the client keeps control of its private keys in each setup.

Latest from Taurus on X

Taurus
@taurus_hq · 5.8K followers
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Binance hack explained.

Figure 1. What Binance set-up should be based on our understanding of the events (outside-in) and a transaction lifecycle.

1. Transaction service: creates transactions and waits until right quorum of approvals is made

2. Transaction Policy controls: policy engine that checks transactions authorized and right policy controls / validations made (before signature)

3. Signing infrastructure: where keys are stored and protected; where blockchain transaction signatures (with private keys) actually take place

4. Broadcasting: node infrastructure that broadcasts signed transactions
Image attached to the post
2 1 8 587 View on X
Taurus expands its @StellarOrg integration with live Soroban support 🌐

🏦 Banks can now custody, issue, and manage smart contract-based assets through existing Taurus interfaces and APIs, from standard token models to custom structures.

https://t.co/KXx775X8ES https://t.co/DhuWfWwpVr
Image attached to the post
0 4 24 2.7K View on X
The DTCC has launched its Tokenization Service (DTS) 🏦

Among the ecosystem collaborators, Taurus acts as a wallet provider, integrating directly with DTS APIs and nodes to give clients access via Taurus infrastructure. 

Learn more: https://t.co/rn5FrkRF1m https://t.co/d7ugLOZa5P
Image attached to the post
0 2 4 314 View on X
MPC signature schemes do not support hash-based post-quantum signatures (selected by Ethereum, Arc, Sui, etc.) and will likely never be able to do so due to mathematical constraints.

➡️ Learn more in our report: https://t.co/ZmdXtOORj1 https://t.co/djNGWoSOz1
Image attached to the post
1 2 7 987 View on X
Taurus has joined @XDCNetwork as an institutional validator.

By operating a validator node, Taurus will participate directly in XDC Network’s consensus infrastructure, helping validate transactions and support the security and resilience of the network.

https://t.co/LLh4Ca3JoK https://t.co/u3HDatDLIr
Image attached to the post
10 52 194 49.4K View on X

Recent public posts from @taurus_hq, shown as published. Not reviewed or endorsed by CryptoReview.

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