Swift Links Blockchain Ledger With Taurus for Bank Deposit Payments

Taurus, a digital asset infrastructure company, has connected its tokenization and custody systems to Swift’s blockchain-based payment ledger. The move lets Taurus clients link their existing digital asset setups to the network for handling payments using bank-issued tokenized deposits.

According to a Wednesday announcement, the first client connections should go live within days. Actual transactions on the ledger through Taurus’s platforms are expected to follow within a few weeks.

Swift’s Ledger Already Has Bank Backing

Swift confirmed in July that its ledger was ready for initial rollout, with 17 banks spanning six continents lined up to test live transactions using tokenized deposits. Since then, Standard Chartered and HSBC completed the ledger’s first live cross-border payment, linking their separate tokenized deposit systems together for the transaction.

How the Ledger Actually Works

Swift’s ledger functions as a coordination layer for cross-border payments that run around the clock using tokenized deposits held on participating banks’ books. Rather than settling transactions itself, it organizes transfers between institutions and then routes them through existing settlement systems, including real-time gross settlement networks, for final processing.

The Taurus integration marks another step toward banks and digital asset firms sharing a common rail for moving tokenized money across borders, building on the momentum from Swift’s July rollout and the HSBC-Standard Chartered pilot.