Taurus outlines three technical hurdles for banks adopting Swift’s blockchain network
Swift’s blockchain ledger is moving toward live tokenized-deposit payments, but banks need their own permissioned ledgers, digital-asset wallets, and tokenization and smart-contract tools to connect. The system is an orchestration layer, not a replacement for banks’ internal systems or existing settlement arrangements. Swift said 17 banks were preparing transactions; HSBC and Standard Chartered completed a live interbank transaction, while DBS and Citi later made a cross-border dollar payment in minutes over a weekend. The approach keeps deposits on bank balance sheets and aims to offer round-the-clock payments through a shared standard. Taurus says its platform supplies the required infrastructure, though banks may also use multiple vendors.
