Exclusive: Taurus connects banks to Swift’s blockchain ledger, clients due in days

Digital asset firm Taurus has successfully connected its infrastructure with Swift's blockchain-based shared ledger, with the first live clients expected to begin using the service within days according to a source. The Geneva-based company has integrated Swift's smart contracts into its tokenization and custody products, Taurus-CAPITAL and Taurus-PROTECT, utilizing a permissioned blockchain infrastructure for its clients.

This integration allows Swift's member banks to access tokenized deposits without the need to develop the infrastructure themselves. For institutions already utilizing Taurus for digital asset custody and issuance, connecting to the ledger can be done swiftly, in a matter of days. Taurus also aims to attract Swift members with no previous experience in digital assets.

Swift's shared ledger is designed to maintain tokenized deposits on banks' balance sheets instead of replacing commercial bank money, addressing concerns regarding stablecoins in cross-border payments. Bank-issued deposits remain on the institutions' ledgers, while Swift facilitates the movement between participants, including overnight settlements and weekends.

The ledger does not alter Swift's role as a messaging network, with settlement continuing through existing mechanisms like real-time gross settlement systems. This means banks can extend payment availability without replacing current arrangements. Swift unveiled the shared ledger at the Sibos 2025 conference, having collaborated with over 40 financial institutions and completing a nine-month transition from concept to activation, with 17 institutions piloting tokenized deposit transactions.