Taurus links tokenization, custody to Swift blockchain ledger

Taurus integrated its tokenization and custody platforms with Swift’s blockchain-based ledger, the company announced. The connection lets Taurus clients route payments that use bank-issued tokenized deposits while keeping custody and token management on their existing systems.

The technical link ties Taurus’ tokenization and custody services to Swift’s ledger for tokenized deposits. Banks and other financial institutions using Taurus will be able to send and receive tokenized deposit transfers via Swift’s network without replacing their custody or tokenization stacks.

The initial client integrations are scheduled to go live within days, and the first distributed ledger technology transactions through Taurus’ platforms are expected within weeks as participants complete connectivity and testing.

Swift designed the ledger as an orchestration layer for round-the-clock cross-border payments that use tokenized deposits held on participating banks’ balance sheets. The ledger coordinates the movement of tokenized funds between institutions and then relies on existing settlement arrangements, such as real-time gross settlement systems, to complete final settlement.

The ledger has progressed through pilot testing. In July, Swift said it was ready for initial use and named multiple banks preparing live pilot transactions. Two banks have already completed the first live cross-border transaction by connecting their separate tokenized deposit systems, demonstrating interoperability between different bank platforms.

Taurus’ integration provides a path for its clients to participate in the Swift ledger while keeping custody functions on their current infrastructure. Wider rollout will depend on further bank testing and regulatory approvals in each market.