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IBM adds beta Swift ledger link for 24/7 tokenized deposits

IBM said participating Swift program banks have tested tokenized deposits on the ledger, and HSBC and Standard Chartered completed the first live cross-border transaction in August.

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IBM has expanded its Digital Asset Haven platform with a beta connectivity option to Swift’s blockchain-based ledger for tokenized deposits, aiming to let banks handle tokenized and traditional assets in parallel, Cointelegraph reports.

The new Swift ledger link allows financial institutions to instruct tokenized deposit transfers using existing payment messages and compliance processes, using ISO 20022 through a messaging adapter rather than building blockchain-specific workflows.

Cointelegraph also reports that IBM added a beta option for banks to run its digital asset platform in their own data centers, using on-premises infrastructure on IBM Z and LinuxONE and avoiding reliance on public cloud services.

Swift developed the ledger with more than 40 financial institutions, launched it in July with 17 banks in a pilot group that included HSBC, Citi, BNP Paribas, UBS, and Standard Chartered, and later saw HSBC and Standard Chartered complete the first live cross-border transaction in August, according to Cointelegraph.

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