Swift and Taurus Unleash Cross-Border Payments on Blockchain

Taurus, a digital asset infrastructure provider, has connected its tokenization and custody platforms to Swift's blockchain-based shared ledger. This integration enables financial institutions to use bank-issued tokenized deposits for round-the-clock cross-border payments.

The first client connections are expected within days, with initial distributed ledger transactions planned within weeks. Taurus' PROTECT platform handles programmable wallet and key management, while the CAPITAL platform manages the issuance of bank-issued tokenized money.

Banks without existing blockchain infrastructure can use managed Hyperledger Besu environments and Ethereum Virtual Machine connectivity supplied by Taurus. Standard Chartered and HSBC have already completed the ledger's first live cross-border transaction under this model.