Swiss Syz Private Bank Tokenizes Artworks Through Taurus Platform

Article is form Jinse
September 17, 2024
This article is translated by ChatGPT Show original
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English Translation:

Gold Finance reports that Swiss private bank Syz has successfully tokenized an artwork using the Taurus tokenization platform. This tokenized artwork wasn't a famous Picasso painting, but rather "Dreamstime" by Swiss artist Sarah Benslimane. These Ethereum-based security tokens were not sold, but rather distributed to the bank's employees, granting them ownership of the artwork.

Employees can buy and sell these tokens through the Taurus TDX market. Syz Bank manages assets worth approximately 23 billion Swiss francs and uses this project to explore the potential of blockchain technology in wealth management. Nicolas Syz, head of Syz Private Bank, stated that this project not only provides employees with a new way to engage with art but also helps the bank explore the application value of tokenization for future wealth management services.

Furthermore, other Swiss banks, like Sygnum, also tokenized Andy Warhol's "Four Marilyns" in 2022.

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