IBM Bolsters Digital Banking with Swift Blockchain Integration

IBM has expanded its digital banking infrastructure by integrating with Swift's blockchain-based shared ledger. This integration allows IBM clients to connect to permissioned blockchain networks, providing a secure and controlled environment for managing digital assets.

The move is part of IBM's efforts to help financial institutions, governments, and regulated organizations provide digital asset services while prioritizing enterprise-grade security and control. With the beta release of the IBM Digital Asset Haven ISO 20022 Messaging Adapter feature, institutions can instruct tokenized deposit transactions using standard ISO 20022 messages through the shared ledger infrastructure.

The integration with Swift's ledger supports bank-issued tokenized deposits, allowing participating clients to move digital assets 24 hours a day, 7 days a week, ahead of final settlement. This means that banks can use existing standards and compliance processes to explore new models for moving money digitally.