Taurus co-founder warns banks need key layers for Swift blockchain ledger

Swift blockchain ledger — A top executive from digital asset firm Taurus has warned that banks must build critical internal infrastructure before they can effectively connect to Swift’s new blockchain-based ledger for tokenized deposits.

Lamine Brahimi, co-founder and managing partner of Taurus, outlined three technical hurdles for financial institutions. He stated banks require their own permissioned ledger, digital-asset wallet tools, and tokenization and smart-contract capabilities to integrate with the Swift network. The Swift ledger, which enables round-the-clock cross-border transfers of tokenized deposits, acts as an orchestration layer but does not replace banks’ internal systems or existing settlement rails.

Major global banks, including HSBC, Standard Chartered, DBS, and Citi, have already completed live transactions on the Swift ledger. These demonstrations have shown that payments can settle in minutes, even on weekends, highlighting the potential efficiency gains of the blockchain-based system.

The comments underscore the significant technical lift still required for widespread bank adoption of blockchain networks, even as foundational layers from providers like Swift become operational. The development points to a growing but complex landscape for institutional digital asset infrastructure.