Taurus Connects to Swift's Shared Ledger for Tokenized Deposits

Swift's blockchain-based shared ledger is gaining momentum as it integrates with financial institutions to facilitate cross-border settlement. Taurus, a tokenization and custody platform, has connected its services to Swift's ledger, allowing banks to route tokenized deposit payments through their existing infrastructure.

The integration enables banks to issue, manage, and transact tokenized money without rebuilding their digital asset stack. According to Taurus, clients can connect their systems within days, with initial distributed ledger technology transactions anticipated within weeks.

Seventeen banks across six continents are preparing to pilot live tokenized deposit transactions, including Standard Chartered and HSBC, which have already completed the first cross-border payment using their respective tokenized deposit systems. Swift's ledger acts as an orchestration layer that coordinates transfers around the clock before final settlement through existing arrangements.