Swift blockchain ledger requires key internal layers, Taurus co-founder warns
Source: CoinDesk ·
From the source
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. Swift’s new blockchain-based ledger may be ready for live payments, but banks still need their own digital-asset infrastructure before they can connect to it, according to Lamine Brahimi, co-founder and managing partner of custody and tokenization firm Taurus. “If you want to connect today to the Swift ledger, you need three things,” Brahimi said in an interview with CoinDesk. “You need your own permissioned ledger that interacts with that of Swift, you need wallet capabilities, and you also need tokenization and smart-contract capabilities to be able to integrate the Swift smart contracts.” This criteria means Swift’s ledger is a replacement for a bank’s internal systems. It is an orchestration layer designed to enable institutions to move tokenized deposits across borders around the clock, while final settlement…