IBM Bolsters Digital Banking Infrastructure with Swift Integration
IBM has expanded its digital banking infrastructure by integrating with Swift's blockchain-based shared ledger for tokenized deposit transactions. This beta offering enables financial institutions to connect to permissioned blockchain networks, including Swift's ledger.
The integration allows banks to instruct tokenized deposit transactions using standard ISO 20022 messages through the shared ledger infrastructure. This means they can build on existing payment message formats and operational processes instead of blockchain-specific workflows.
IBM Digital Asset Haven has also been extended to an on-premises beta deployment option, enabling clients to manage digital asset operations entirely within their own data centers. This platform helps banks, governments, and other regulated organizations manage and secure digital assets.
According to J.P. Morgan Payments, 93% of financial institutions are modernizing their payments infrastructure as they look to move money more efficiently across borders and manage a growing range of digital assets.