IBM Connects Digital Asset Haven to SWIFT's Blockchain Ledger for On-Premises Banking

IBM has expanded its Digital Asset Haven platform to connect with SWIFT's blockchain-based shared ledger, allowing banks to use standard ISO 20022 payment messaging. This connection gives 17 early-adopter financial institutions, including Citi and HSBC, a way to pilot tokenized deposit transactions on Swift's ledger.

The collaboration between IBM and SWIFT is significant as it enables banks to manage digital assets without relying on public cloud infrastructure. To this end, IBM has introduced an on-premises version of Digital Asset Haven that runs entirely on clients' own IBM Z or LinuxONE systems.

This move is timely as financial institutions begin building infrastructure for production use, with 93% of banks modernizing their payments infrastructure according to a J.P. Morgan Payments report.