IBM integrates digital asset platform with Swift shared ledger

IBM has launched a beta feature for its Digital Asset Haven platform, enabling banks to transfer tokenized deposits onto Swift's blockchain ledger. The new beta connectivity allows banks to utilize existing payment messages and compliance procedures, instead of creating blockchain-specific workflows. This move comes as the financial services industry transitions to a new era where tokenized and traditional assets must coexist seamlessly.

IBM's Digital Asset Haven platform now includes a messaging adapter that adheres to the ISO 20022 global standard for financial messaging, allowing institutions to instruct tokenized deposit transactions using standard formats. The beta option also enables banks to operate IBM's digital asset platform in their own data centers using IBM Z and LinuxONE infrastructure, without depending on public cloud services.

Swift, a global financial messaging cooperative, developed the blockchain ledger in collaboration with over 40 financial institutions, launching it in July with an initial pilot group of 17 banks. HSBC and Standard Chartered successfully conducted the first live cross-border transaction on the ledger in August.