Digital asset infrastructure firm Taurus has completed integration of its tokenization and custody platforms with Swift’s blockchain-based ledger, giving institutional clients a route to settle cross-border payments using bank-issued tokenized deposits.
Live Connections Expected Within Days
Taurus said Wednesday that its clients can now connect their existing digital asset infrastructure to the Swift ledger to facilitate payments using tokenized deposits. The first institutional client integrations are expected to go live within days, with the first distributed ledger technology (DLT) transactions processed through Taurus platforms anticipated within weeks.
How the Swift Ledger Works
Swift’s blockchain ledger functions as an orchestration layer designed to enable round-the-clock cross-border payments using tokenized deposits held on participating banks’ balance sheets. The ledger coordinates transfers between institutions and routes final settlement through existing arrangements, including real-time gross settlement systems.
Swift announced in July that the ledger was ready for initial use, with 17 banks across six continents preparing to pilot live transactions using tokenized deposits. Standard Chartered and HSBC have since completed the ledger’s first live cross-border transaction, connecting their separate tokenized deposit systems.
