Taurus integrates Swift’s Blockchain ledger for its clients
Taurus, a leader in digital asset infrastructure, is enabling financial institutions to connect to Swift’s blockchain-based shared ledger, with the first live clients expected in a couple of days. The first DLT transactions facilitated through Taurus are expected in a couple of weeks and will be announced in due course.
As per the announcement, Taurus has successfully completed connectivity with Swift’s DLT infrastructure and the integration of Swift smart contracts with its tokenization (Taurus-CAPITAL) and custody (Taurus-PROTECT) solutions on clients’ permissioned blockchain infrastructure.
For Taurus’s existing clients, this connectivity builds on the digital asset infrastructure they already use to custody, issue, and manage digital assets and can be set up in a matter of days. It extends those capabilities to bank-issued tokenized money and 24/7 cross-border payment use cases.
Taurus’ integration with Swift’s ledger is also intended for members of the Swift community that require an enterprise-grade tokenization solution and wallet management capabilities, or that simply want to enter the space without prior experience.
Swift’s ledger provides a secure orchestration layer for 24/7 cross-border payments using tokenized deposits that remain on banks’ balance sheets, thus preserving the benefits of commercial bank money. Bank-issued tokenized deposits remain on banks’ own ledgers, while Swift’s ledger securely coordinates the movement of funds between participating institutions, including overnight and on weekends.
This orchestration takes place before final settlement. Swift’s ledger does not change Swift’s role as a global financial messaging network, and final settlement continues through agreed mechanisms, such as real-time gross settlement systems. Banks can therefore extend payment availability without replacing their existing settlement arrangements.
Lamine Brahimi, Co-Founder and Managing Partner at Taurus, explained, that financial institutions need digital asset infrastructure that can connect securely with the systems and networks they already use. He adds, “By enabling seamless connectivity to Swift’s blockchain-based shared ledger, Taurus is helping banks extend their digital asset capabilities to tokenized deposits and cross-border payments while retaining control of their own infrastructure.”
Most recently, Standard Chartered and HSBC completed the of bank-to-bank tokenized deposit interoperability with the first live cross-border transaction on Swift’s blockchain ledger.
