IBM Enables Banks to Connect to Swift's Blockchain-Based Shared Ledger
IBM has announced the beta release of its Digital Asset Haven platform, which allows financial institutions to connect to Swift's blockchain-based shared ledger for tokenized deposit transactions. The platform enables clients to instruct tokenized deposit transactions using standard ISO 20022 messages through the shared ledger infrastructure.
The beta release includes an on-premises deployment option, allowing institutions to manage digital asset operations entirely within their own data centers. This move is expected to help banks prioritize enterprise-grade security and control while exploring new models for moving money digitally.
Swift's blockchain-based shared ledger supports bank-issued tokenized deposits and participating IBM clients can move digital assets 24 hours a day, 7 days a week, ahead of final settlement through existing systems. The ledger is being piloted by 17 first-mover institutions, with more than 40 financial institutions collaborating on its design.