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IBM adds Swift shared ledger access for tokenized deposit messaging
The beta ISO 20022 adapter lets institutions instruct tokenized deposit transactions on Swift’s ledger using standard payment messages, with settlement through existing systems.
IBM has expanded its Digital Asset Haven platform by adding access to Swift’s blockchain-based shared ledger for tokenized deposit transactions, using a beta messaging adapter, The Block reports. The change is designed to let institutions send instructions via standard ISO 20022 payment messages rather than blockchain-specific workflows.
IBM said clients of Digital Asset Haven can now connect to permissioned blockchain networks that include Swift’s shared ledger. IBM added that financial institutions participating in Swift’s program have already tested tokenized deposits on the ledger using Digital Asset Haven.
According to IBM, the ledger supports bank-issued tokenized deposits and is built to enable participating clients to move digital assets 24/7, with final settlement still taking place through existing systems. IBM also said the messaging adapter is meant to let banks build on existing payment message formats and operational processes.
IBM is also extending Digital Asset Haven to an on-premises beta deployment that can run on IBM Z and IBM LinuxONE without relying on public cloud infrastructure. The platform and its key management layer are intended to stay inside the client’s own environment, with IBM Crypto Express hardware security modules protecting the keys.