IBM Connects Digital Asset Haven to Swift's Blockchain-Based Ledger

IBM has successfully connected its Digital Asset Haven platform to Swift's blockchain-based shared ledger for tokenized deposit transactions via ISO 20022, a global standard format used by banks.

The new connectivity allows banks to send payment instructions using the familiar ISO 20022 messaging format, making it easier for them to instruct tokenized deposit transactions on Swift's rail without requiring knowledge of blockchain-specific workflows.

According to IBM, the bank does not need to learn a new way of instructing payments, and the financial services industry is entering a new era where tokenized and traditional assets will need to move side by side.