IBM Integrates Swift Ledger for Tokenized Deposits

IBM has expanded its Digital Asset Haven platform by adding beta connectivity to Swift's blockchain-based ledger for tokenized deposits.

The new feature, announced on Thursday, allows financial institutions participating in Swift's program to test tokenized deposits on the ledger using IBM's platform.

This addition enables banks to use existing payment formats and compliance processes instead of building blockchain-specific workflows, as stated by Tom McPherson, general manager of IBM Z and LinuxONE.

The beta option for banks to run IBM's digital asset platform in their own data centers is also now available, running on IBM Z and LinuxONE infrastructure without relying on public cloud services.