Linux Foundation Launches Panarus Tokenization Project With Swift And Wells Fargo

LF Decentralized Trust on Tuesday said 15 organizations, including Swift and Wells Fargo, joined the open-source foundation as it launched Panarus, a tokenization project, and CLPR, a cross-ledger protocol research lab.

The new members expand LF Decentralized Trust's roster of financial institutions, technology firms, and enterprises working on distributed ledger infrastructure. Swift's membership follows its push to build blockchain capabilities into a network connecting 11,500 financial institutions, while Wells Fargo's entry comes months after the bank said it would introduce tokenized deposits for corporate and commercial clients this fall, enabling 24/7 movement and programmability of funds.

Panarus, the foundation's new tokenization project, aims to bring financial institutions together around common standards for representing real-world assets on ledger systems. The project's scope covers how banks and other regulated entities can issue, transfer, and manage tokenized assets across different platforms, addressing fragmentation that has slowed institutional adoption.

CLPR, pronounced "clipper," is a bridgeless cross-ledger protocol designed to connect private ledger instances with public networks. The research lab will explore how assets can move between permissioned environments and public blockchains without traditional bridges, which have been a source of security vulnerabilities and operational complexity. Hedera has already launched a version of CLPR bridging assets between private HashSphere instances and the public Hedera network, and the LF Decentralized Trust lab will build on that work.