IBM Connects Digital Asset Haven to Swift's Blockchain Ledger

IBM has connected its Digital Asset Haven platform to Swift's blockchain-based shared ledger via a new beta integration. This move allows regulated institutions to manage tokenized deposit transactions through existing banking systems.

The integration uses an ISO 20022 Messaging Adapter, allowing banks to send instructions for tokenized deposit transactions through the same messaging systems they already use.

This means that institutions can explore blockchain-based payments without having to completely change their existing banking infrastructure. In fact, final settlements will take place through existing financial systems.

Tom McPherson, General Manager, IBM Z and LinuxONE, stated, 'The financial services industry is entering a new era where tokenized and traditional assets will need to move side by side…By connecting to Swift's shared ledger and extending IBM Digital Asset Haven to on-premises environments, IBM is helping clients participate in emerging digital asset networks while prioritizing control of their most critical financial operations.'

Swift's blockchain ledger uses an Ethereum Virtual Machine-compatible architecture based on Hyperledger Besu. This ledger helps coordinate payment commitments between banks.

In addition to the integration with Swift's blockchain, IBM is also expanding Digital Asset Haven with a new on-premises beta option. This is for clients who intend to keep their digital asset operations within their own data centers.