Taurus enables financial institutions to connect to Swift's blockchain-based shared ledger

Taurus, a digital asset infrastructure firm, has connected to Swift's blockchain-based shared ledger. The company expects its first live clients to go live in a couple of days, with initial transactions over the ledger anticipated within weeks.

Taurus has integrated Swift smart contracts with its tokenization and custody products, allowing Swift's member banks to access tokenized deposits without having to build the infrastructure themselves. For institutions already using Taurus for digital asset custody and issuance, connectivity can be established quickly.

The Swift ledger is designed to keep tokenized deposits on banks' own balance sheets, rather than replacing commercial bank money. The ledger coordinates movement between participants, with final settlement occurring through existing mechanisms. This development provides a route for Swift's member banks, including those with no prior digital asset experience, to engage with tokenized deposits.

Brief written by urgent.news from Finextra, Cointelegraph, Investing.com — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.