Taurus connects digital asset platforms to Swift’s blockchain ledger for tokenized payments

Taurus integrates with Swift’s blockchain ledger

Digital asset infrastructure provider Taurus has connected its tokenization and custody platforms to Swift’s blockchain-based ledger. This integration allows banks and financial institutions to use their existing digital asset systems for payments with tokenized deposits issued by banks.

A tokenized deposit is a digital version of traditional money held in a bank account, recorded on a blockchain—a digital ledger that tracks transactions securely and transparently.

Taurus announced that the first institutional clients will connect to the system within days, with the first transactions expected in the coming weeks.

How the integration works

Swift, the global payments network, launched its blockchain ledger in July. The ledger acts as an orchestration layer, coordinating cross-border payments using tokenized deposits. These transactions occur around the clock and are settled through existing banking systems, including real-time gross settlement (RTGS) systems.

Seventeen banks across six continents are preparing to test the system, with Standard Chartered and HSBC already completing the first live cross-border transaction on the ledger.

Key details of the announcement

• Taurus clients can now link their digital asset infrastructure to Swift’s ledger.
• First institutional connections expected within days.
• Initial distributed ledger technology (DLT) transactions anticipated within weeks.
• Swift’s ledger supports 24/7 cross-border payments using tokenized deposits.
• Seventeen banks are involved in piloting the system.

What is confirmed

The integration between Taurus and Swift’s blockchain ledger is confirmed. Taurus has announced that its clients will soon connect to the system, with transactions expected shortly. Swift’s ledger is operational, and banks like Standard Chartered and HSBC have already used it for live transactions.

Why this matters for financial institutions

This integration could simplify cross-border payments for banks by combining traditional banking systems with blockchain technology. Tokenized deposits allow for faster, more efficient transactions while maintaining compatibility with existing financial infrastructure.

Sources

• Cointelegraph