IBM has announced the beta launch of connectivity with Swift's blockchain-based ledger for tokenized deposits, as well as a beta option for banks to run IBM's Digital Asset Haven platform in their own data centers. The Digital Asset Haven platform now includes a messaging adapter that allows institutions to instruct tokenized deposit transactions using ISO 20022, the global standard for financial messaging. This integration enables banks to use existing payment formats and compliance processes, rather than building blockchain-specific workflows.
Swift, the global financial messaging cooperative, developed the blockchain ledger with over 40 financial institutions and launched it in July with 17 banks in its initial pilot group, including HSBC, Citi, BNP Paribas, UBS, and Standard Chartered. HSBC and Standard Chartered completed the first live cross-border transaction on the ledger in August.
The on-premises option for the Digital Asset Haven platform will run on IBM Z and LinuxONE infrastructure, allowing banks and other regulated institutions to keep their digital asset operations and key management within their own data centers. This move is part of the financial services industry's shift towards managing tokenized and traditional assets side by side.
