Swift blockchain ledger requires key internal layers, Taurus co-founder warns
Taurus co-founder Lamine Brahimi warns that banks must develop their own internal digital infrastructure to effectively utilize Swift's new blockchain-based ledger. While Swift's ledger acts as an orchestration layer for cross-border tokenized deposits, it does not replace the need for banks to manage their own wallets and smart contracts.
Why it matters
This highlights the technical hurdles financial institutions face in modernizing legacy systems to integrate with emerging blockchain-based payment networks.
由 AI 翻译 2 分钟阅读 Make preferred on 分享 分享这篇文章 复制链接 X icon X (Twitter) LinkedIn Facebook 电子邮件 Make preferred on Taurus' co-founder Lamine Brahimi pointed out Swift's technical shortcomings. (Swift/Media) 摘要 显示 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. 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.
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