Banks need their own permissioned ledgers, wallets and tokenization and smart-contract tools to connect to Swift’s new blockchain-based ledger, according to CoinDesk, citing Taurus co-founder and managing partner Lamine Brahimi. Swift’s ledger is an orchestration layer for round-the-clock tokenized-deposit transfers, not a replacement for banks’ internal systems; HSBC, Standard Chartered, DBS and Citi have already completed live transactions, including weekend payments settled in minutes.