The Hashgraph Association doubles down on MENA region growth with Taurus tokenization deal

As per the press release, the collaboration will enable the integration of HBAR, Hedera’s native cryptocurrency, and the Hedera Token Service (HTS) – an API that enables the configuration, minting, and management of fungible and non-fungible tokens on the Hedera Network – into Taurus’s platform.

The full integration enables secure custody, staking, and asset tokenization for regulated financial institutions and provides them access to Hedera’s fast, secure, and sustainable distributed ledger technology.

Taurus’s technology stack specializes in custody, tokenization, and node infrastructure. It is expected to allow banks and other financial institutions to securely hold and stake HBAR and issue Hedera-based tokenized assets while meeting regulatory and stringent security standards.

Tokenization is growing in MENA

The collaboration aims to offer Hedera’s decentralized enterprise-grade solutions across the financial and banking industry globally, primarily targeting Europe, Asia, the Middle East, and Africa.

The news of the integration comes as tokenization investments and projects are moving forward in the MENA region. DAMAC announced a $1 billion tokenization deal with Mantra Blockchain. Tokinvest also recently obtained a license to operate in the UAE.

Kamal Youssefi, President of The Hashgraph Association, stated: “Taurus is a world-class, secure platform for digital asset management. With increasingly positive market sentiment and a more established regulatory landscape, demand for institutional-grade custody and tokenisation has ramped up of late. It is a great pleasure to work with the Taurus team to integrate Hedera and enable new opportunities in secure digital assets.”

Lamine Brahimi, Taurus Co-Founder and Managing Partner, added: “Adding HBAR to our platform reflects our commitment to supporting the world’s most advanced blockchain and distributed ledger technologies. We are excited to work with The Hashgraph Association to provide institutional clients with the tools they need to securely store and issue HBAR, while contributing to the wider adoption of its ecosystem.”

The Hashgraph Association is working on five tokenization projects in Qatar

The Hashgraph Association has already started to work in the MENA region, especially in Qatar, on five tokenization cases. It also recently partnered with SettleMint in Qatar for the same purpose.

In September 2024, The Hashgraph Association, a partner with Qatar Financial Centre (QFC) Digital assets Lab announced on LinkedIn, that within the next 12 months, it will work together with stakeholders to explore implementing five innovative use cases in the areas of equity tokenization, Sukuk Islamic Bonds tokenization, real estate tokenization, sustainability ESG carbon credits, as well as consumer engagement and loyalty programs.

The partnership with SettleMint seeks to accelerate the impact of DLT (Distributed Ledger Technologies) and digital assets across several industries.

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap