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Taurus co-founder warns banks need internal layers for Swift's blockchain ledger
Lamine Brahimi, co-founder of custody and tokenization firm Taurus, stated that for banks to connect to Swift's new blockchain-based tokenized-deposit network, they must first establish their own permissioned ledger, wallet tools, and smart-contract capabilities. Brahimi clarified that Swift's ledger acts as an orchestration layer, enabling cross-border tokenized deposit movements, rather than replacing banks' internal systems. Swift announced in July that 17 banks were preparing live tokenized-deposit transactions, with HSBC and Standard Chartered completing the first interbank transaction in August.
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