Lamine Brahimi, co-founder of Taurus, highlighted that Swift's new blockchain ledger requires banks to have their own permissioned ledgers, digital-asset wallets, and smart-contract capabilities to connect. He emphasized these requirements mean the Swift ledger acts more as an orchestration layer rather than a replacement for banks' internal systems, which are still necessary to manage tokenized deposits. Brahimi also noted that this infrastructure is not an insurmountable hurdle, especially for banks already handling digital assets, and sees the move as providing banks with an additional choice between existing payment systems and tokenized deposits. Swift announced in July that 17 banks are preparing live tokenized-deposit transactions, with HSBC, Standard Chartered, DBS, and Citi having completed some transactions, demonstrating faster cross-border payments.