IBM Bolsters Digital Asset Haven with Swift Ledger Link and On-Premises Option
IBM has expanded its Digital Asset Haven platform by adding beta connectivity to Swift's blockchain-based ledger for tokenized deposits and offering a beta option for banks to run IBM's digital asset platform in their own data centers.
The new features are designed to help financial institutions manage and secure digital assets more efficiently. Tokenized deposits on the ledger have been tested using the platform by financial institutions participating in Swift's program, according to IBM.
The Digital Asset Haven platform now includes a messaging adapter that lets institutions instruct tokenized deposit transactions using ISO 20022, the global standard for financial messaging. This allows banks to use existing payment formats and compliance processes instead of building blockchain-specific workflows.
Tom McPherson, general manager of IBM Z and LinuxONE, stated, 'The financial services industry is entering a new era where tokenized and traditional assets will need to move side by side.'
The on-premises option for the platform will run on IBM Z and LinuxONE infrastructure without relying on public cloud services, allowing banks and other regulated institutions to keep their digital asset operations and key management within their own data centers.