Swift blockchain ledger requires key internal layers, Taurus co-founder warns
Banks need their own permissioned ledger, wallet tools and smart-contract capabilities before they can use Swift’s tokenized-deposit network, Taurus’s Lamine Brahimi said.
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Summary
- Banks need their own permissioned ledgers, digital-asset wallets and tokenization and smart-contract capabilities to connect to Swift’s new blockchain-based ledger.
- Swift’s ledger enables round-the-clock, cross-border transfers of tokenized deposits but serves as an orchestration layer rather than a replacement for banks’ internal systems or existing settlement arrangements.
- HSBC, Standard Chartered, DBS and Citi have completed live transactions on the ledger, demonstrating payments that can settle in minutes, including on weekends.
