UK Bank ClearBank Moves Into Stablecoins With Taurus Deal

Group 1 - ClearBank has partnered with Taurus to provide stablecoin services, indicating banks' desire for crypto infrastructure without the associated risks [1][2] - Taurus, a Swiss firm, will manage the technical aspects of stablecoin services while ClearBank maintains customer relationships, emphasizing a focus on security and governance [2][3] - The stablecoin market has reached a $300 billion valuation, driven by regulatory clarity in the US and Europe, which has encouraged banks to engage with crypto [5] Group 2 - Taurus has established connections with major banks like Deutsche Bank and State Street, highlighting a trend where banks seek faster, compliant money transfer solutions [4][5] - The integration of bank-grade stablecoin services is expected to enhance user experience by providing smoother transactions akin to traditional bank transfers [6] - Adoption of stablecoins is rapidly increasing, with data indicating triple-digit growth as users begin to treat them like digital checking accounts [7]