THE STATUS QUO
How cross-border value moves today
There’s no single global ledger for currencies or commodities.
So when two institutions don’t hold accounts with each other, they settle through a chain of correspondent banks: bank A reaches the destination through bank B, which reaches it through bank C. Each holds accounts for the others, a Nostro account (“our money, held by you”) and a Vostro account (“your money, held by us”).
This is the established system, and it clears. Banks pass the instructions through messaging protocols such as SWIFT, and that works. The structural point is narrower: the message and the money travel at different speeds. The message arrives in seconds. The value moves down the correspondent chain over days.
Two things follow from that design.
Capital sits idle.
To settle on demand, a bank pre-funds Nostro accounts in every currency it deals in. That capital is parked in accounts around the world, not deployed.
There's a window between "sent" and "confirmed."
One party pays its leg before the other has paid theirs. For currency-against-currency trades, the industry built CLS to close that window. No equivalent safeguard exists once the deal mixes asset types: a commodity, a currency, and a payment in one arrangement.
HOW IT WORKS
How TokenWARP® routes value directly
TokenWARP® is a patented routing protocol (EP3496020) for multi-party, multi-asset atomic settlement. Instead of passing instructions down a correspondent chain, it calculates the most efficient paths between what each party holds and what they want, then settles the chosen route as one atomic transaction.
Take the correspondent case: a bank needs to send value to a counterparty it has no direct relationship with, in a currency it doesn’t hold.
Everyone declares positions.
Each institution on the network publishes what it holds and what it would accept: currencies, tokenized commodities, other tokenized assets. Somewhere among those standing offers is a party holding the currency the bank needs. Thanks to the latest blockchain infrastructure, this data is not public but only visible between banks.
One party initiates.
It signals what it wants to send and what it wants delivered at the other end. The routing engine searches the declared positions for a way to connect the two. If more than one route exists, several will be displayed based on the search criteria. The transaction initiator or an agent on their side selects the best route.
The engine builds the path.
It chains the legs it needs, a currency conversion here, an asset transfer there, into a single route. The route’s assets are included in the search results. Preferred routes can be selected not only based on the best result but also on permitted assets.
The route settles atomically.
It settles as one transaction, or it doesn’t settle at all. There’s no point where the bank has sent and is waiting on the rest of the chain to confirm. Every balance stays exactly where it started unless the whole route settles together.
No custodian holds the assets between steps. No central order book to manage. No bridge confirmation to wait for. Each institution keeps control of its own holdings throughout.
Multiple years of infrastructure behind a single patented mechanism
TokenWARP® is protected intellectual property (EP3496020), with filings across multiple jurisdictions. For enterprise clients, that matters: the routing mechanism isn’t something a competitor can replicate without doing the underlying infrastructure work.
It runs on TEOS, CoreLedger’s token economy infrastructure — seven-plus years of engineering built to handle the service-layer complexity most blockchain projects never reach, because they’re still assembling an application on top of nothing.
TokenWARP® runs on multiple networks and technologies. Thanks to third-generation blockchains, it is now also possible to route values across chains, for any tokenized asset the network supports.
USE CASES
Two use cases out of many for TokenWARP
Beyond its use for cross-border and multi-currency settlements, TokenWARP has countless other applications. Two that can already offer significant benefits are presented below.
Multi-leg trade: commodity, currency, and payment in one step
A commodity sale often chains three moves: the seller converts the commodity to a local currency, a currency exchange executes, and the buyer's payment lands. Three transactions, three points where the deal can stall, three windows of exposure.
This is a documented gap. FX settlement risk, the chance that one side pays and the other fails before paying its leg, has been recognised since 1974. The industry's answer, CLS, only covers currency-against-currency. For a deal that mixes a commodity, an FX leg, and a payment, no market-wide safeguard exists.
TokenWARP® settles all three legs as one. The seller receives their preferred currency, the buyer pays in theirs, and the conversion happens inside the transaction. There's no sequence to stall halfway through.
Supply chain: move the claim, not the cargo
Traders have swapped ownership claims instead of shipping physical goods for decades. Book-outs, warehouse receipts, and chain-of-title transfers are established commodity-market practice. Today, each of those is negotiated bilaterally, deal by deal.
Say a party holding grain in Singapore needs grain in Rotterdam, while another party in the market has the opposite need. Rather than sail two shipments past each other, the claims swap and the physical grain stays put. In practice the match is rarely a clean pair; it runs through a chain of counterparties, each holding what the next one wants.
The concept isn't new. What TokenWARP® adds is the automation, the atomicity and a much higher chance of finding a trade at all because it doesn’t require both trade pairs to be complimentary: it executes the whole swap across every party in one transaction, without a separately negotiated book-out for each leg. Neither claim moves unless all do. The goods stay exactly where they are; only the rights change hands.
Do you settle across borders, currencies, or asset types?
If your desk moves value between currencies, between a commodity and a payment, or between counterparties who don’t share a ledger, a free 30-minute call will tell you whether atomic settlement takes a real cost out of your current structure: trapped pre-funding, a settlement-risk window, fees at every hop.
We’ll look at your specific flow and tell you plainly whether TokenWARP® applies and what a deployment would involve.