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Taurus stated that banks need to have licensed ledgers, digital asset wallets, and tokenized smart contract capabilities to access the Swift blockchain ledger. This ledger is positioned as an orchestration layer and does not replace the bank's internal systems or existing settlement arrangements. The Swift ledger supports 24/7 cross-border transfers of tokenized deposits. HSBC, Standard Chartered, DBS, and Citi have completed real transactions, and related payments can be settled within minutes or on weekends. (Source: Reuters)