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Taurus integrates its tokenization and custody platforms with Swift ledger

Taurus expects initial client integrations to go live within days and its first distributed ledger technology transactions within weeks.

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Digital asset infrastructure provider Taurus has integrated its tokenization and custody platforms with Swift’s blockchain-based ledger to enable payments using bank-issued tokenized deposits, Cointelegraph reports.

The company said its clients can connect their existing digital asset infrastructure to the ledger for payment use. Taurus expects the first institutional client integrations to go live within days, with initial distributed ledger technology transactions facilitated through its platforms expected within weeks.

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

Swift’s ledger is described as an orchestration layer for round-the-clock cross-border payments on participating banks’ balance sheets. It coordinates transfers between institutions before final settlement through existing arrangements, including real-time gross settlement systems.

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