Taurus has integrated its tokenization and custody platforms with Swift’s blockchain-based ledger, giving clients a way to connect existing digital asset infrastructure to payment flows that use bank-issued tokenized deposits.
The digital asset infrastructure provider said Wednesday, in an announcement shared with Cointelegraph, that clients can now link their current systems to the ledger for payments.
First institutional connections expected within days
Taurus said the first institutional client integrations are expected to go live within days. The company also said the first distributed ledger technology, or DLT, transactions carried out through its platforms are expected within weeks.
Swift said the ledger was ready for initial use in July
Swift announced in July that the ledger was ready for initial use. At that point, 17 banks across six continents were preparing to pilot live transactions using tokenized deposits.
Standard Chartered and HSBC have since completed the first live cross-border transaction on the ledger, connecting their separate tokenized deposit systems.
How the ledger fits into the payment process
Swift’s ledger is designed as an orchestration layer for round-the-clock cross-border payments using tokenized deposits held on participating banks’ balance sheets. It coordinates transfers between institutions before final settlement is completed through existing arrangements, including real-time gross settlement systems.
Cointelegraph also pointed to the earlier live transaction completed by Standard Chartered and HSBC on the Swift blockchain ledger.