Taurus connects to the Swift blockchain ledger, interlinking tokenization and custody platforms

According to Cointelegraph, digital asset infrastructure provider Taurus has integrated its tokenization and custody platform with Swift's blockchain-based ledger. Taurus stated in the announcement that its clients can make payments on this ledger using bank-issued tokenized deposits through the existing digital asset infrastructure.

The first batch of client integrations is expected to go live in a few days, with the first distributed ledger transactions completed through the Taurus platform anticipated to occur within weeks. Swift announced in July this year that the ledger is available for preliminary use, with 17 banks from six continents preparing to pilot real-time transactions using tokenized deposits.

Previously, Standard Chartered Bank and HSBC completed the first real-time cross-border transaction through this ledger, connecting their respective independent tokenized deposit systems. Swift's ledger acts as a coordinating layer, supporting 24/7 cross-border payments for tokenized deposits on participating banks' balance sheets and coordinating inter-institutional transfers through existing mechanisms (including real-time gross settlement systems) before final settlement.