First Clients Expected Soon
Digital asset company Taurus has connected its technology to Swift’s new blockchain-based shared ledger. The company expects its first clients to start using the system within days, with the first transactions likely to happen within weeks.
Taurus, based in Geneva, Switzerland, has connected Swift’s smart contracts to its digital asset products, Taurus-CAPITAL and Taurus-PROTECT. The system will run on blockchain networks controlled by participating clients.
Easier Access to Tokenized Deposits
The connection could make it easier for banks to use tokenized deposits without having to build their own blockchain infrastructure.
Banks that already use Taurus for digital asset custody and issuance could connect to the system within a few days. Taurus is also looking to help Swift member banks that have little or no experience with digital assets.
Tokenized deposits allow banks to represent traditional bank deposits in digital form. Importantly, the deposits remain on the banks’ own balance sheets rather than being replaced by stablecoins.
Swift Expands Payment Capabilities
Swift’s shared ledger is designed to help coordinate payments between banks, including during nights and weekends. However, Swift will continue to operate mainly as a messaging network.
Final settlement will still use existing systems, such as real-time gross settlement networks. This means banks can make payment services available for longer hours without completely replacing the current financial system.
Swift first announced the shared ledger at Sibos 2025. More than 40 financial institutions helped develop the project, which moved from an initial concept to activation in about nine months. Seventeen early participants are now testing tokenized deposit transactions. The Taurus connection marks another step toward wider use of blockchain technology in traditional banking.
Read Original: Exclusive: Taurus connects banks to Swift’s blockchain ledger, clients due in days
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