IBM Bolsters Digital Asset Platform with Swift Ledger Connectivity
IBM has enhanced its Digital Asset Haven platform for banks and other regulated institutions to manage digital assets. The platform now includes a messaging adapter that allows institutions to instruct tokenized deposit transactions using ISO 20022, a global standard for financial messaging.
This new feature enables banks to use existing payment formats and compliance processes instead of building blockchain-specific workflows.
IBM has also added beta connectivity to Swift's blockchain-based ledger for tokenized deposits. This allows financial institutions participating in Swift's program to test tokenized deposits on the ledger using IBM's platform.
The on-premises option 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 within their own data centers.
According to Tom McPherson, general manager of IBM Z and LinuxONE, 'The financial services industry is entering a new era where tokenized and traditional assets will need to move side by side.'