Swift Ledger Puts New Infrastructure Demands on Banks, Taurus Says

Banks seeking to use Swift’s blockchain-based ledger need more than network access, Taurus co-founder Lamine Brahimi said Oct. 7. They must have a permissioned ledger, wallet capabilities and tokenization software with smart-contract functions. The requirements apply as banks prepare to use tokenized deposits for 24/7 cross-border payments.

Swift activated its blockchain-based ledger in July, with 17 banks from six continents preparing live transaction pilots. The shared ledger coordinates movements of bank-issued tokenized deposits, while those deposits remain on participating banks’ own ledgers. Swift says the system can support payments around the clock while preserving existing settlement arrangements.

Taurus integrated its tokenization and custody platforms with Swift’s ledger in August. The company said its clients can connect existing digital-asset infrastructure and retain control of their own systems. Brahimi’s comments highlight the infrastructure gap facing banks that have not yet built digital-asset capabilities. As tokenized deposits move toward wider institutional use, banks may need to invest in internal ledger, wallet and smart-contract systems or rely on specialized providers.