Taurus links digital asset platforms to Swift’s blockchain ledger

Taurus expects first institutional clients to connect in days, with initial DLT transactions through its platforms expected within weeks.

Digital asset infrastructure provider Taurus has integrated its tokenization and custody platforms with Swift’s blockchain-based ledger. 

Taurus said Wednesday in an announcement shared with Cointelegraph that its clients can connect their existing digital asset infrastructure to the ledger for payments using bank-issued tokenized deposits.

The first client integrations are expected to go live within days, with the first distributed ledger technology transactions facilitated through its platforms expected within weeks.

Swift announced in July that the ledger was ready for initial use, with 17 banks across six continents preparing to pilot live transactions using tokenized deposits. Standard Chartered and HSBC have since completed the ledger’s first live cross-border transaction, connecting their separate tokenized deposit systems.

The international payments network’s ledger serves as an orchestration layer for round-the-clock cross-border payments using tokenized deposits on participating banks’ balance sheets. It coordinates transfers between institutions before final settlement through existing arrangements, including real-time gross settlement systems.

Related: StanChart, HSBC execute first live transaction on Swift blockchain ledger

• SWIFT
• Tokenization
• Digital Asset
• Payments
• Banks
• Institutions
• Blockchain