Taurus plugged its tokenization and custody stack into Swift's shared ledger, letting banks issue tokenized deposits in days. Client connections are due soon.
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Taurus has connected its tokenization and custody platforms to Swift's shared ledger, giving banks a route to move tokenized deposit payments over infrastructure they already operate. Clients can link their systems within days, Taurus said. Initial DLT transactions are anticipated within weeks.
The integration lets banks issue and transact tokenized deposits, which stay on the issuing bank's balance sheet, without rebuilding their digital asset stack. Taurus said it has completed connectivity with Swift's DLT infrastructure and integrated Swift smart contracts with its tokenization and custody solutions. For institutions already on Taurus platforms, the setup adds bank-issued tokenized money and continuous cross-border payment use cases.
Swift confirmed in July that its shared ledger was ready for early use. Seventeen banks across six continents are preparing to pilot live tokenized deposit transactions, and Standard Chartered and HSBC have already completed the first cross-border payment using their respective tokenized deposit systems, according to the announcement.
Swift's ledger acts as an orchestration layer that coordinates transfers around the clock before final settlement through existing arrangements such as real-time gross settlement systems. Cross-institutional movement continues overnight and on weekends. Final settlement is unchanged, preserving Swift's role as a global financial messaging network.
The integration also targets members of the Swift community seeking enterprise-grade tokenization tools or wallet management capabilities. Taurus said financial institutions need digital asset infrastructure that connects securely to the systems they already use. Its work with Swift aims to help banks expand into tokenized deposits and cross-border payments while maintaining control of their infrastructure. The read-through for the tokenization sector is that banks want digital asset capabilities wired into the settlement infrastructure they already operate.
Swift has tested the 24/7 ledger while banks adapt to stablecoin competition. The Dallas Fed has warned that tokenized deposits could trigger rate wars among banks. Japan's regulators and banks are separately working to replace T+2 settlement with blockchain-based systems.
Swift unveiled the shared ledger at Sibos 2025 after collaborating with more than 40 institutions, moving from concept to activation in nine months.
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