IBM Integrates Swift Ledger for Tokenized Deposit Transactions

IBM has collaborated with Swift to integrate its blockchain infrastructure into the shared ledger system. This integration enables tokenized deposit transactions, which allow financial institutions to issue instructions for deposits through standard payment messages.

The new ISO 20022 message adapter is a key component of this integration, enabling banks to issue instructions for tokenized deposits using standard payment messages. The Swift project has already seen participating banks use Digital Asset Haven to test tokenized deposits.

Swift's shared ledger supports the issuance and transfer of tokenized deposits, allowing institutions to settle digital assets around the clock. This capability is particularly useful for 24/7 digital-asset transfers, which require rapid settlement times.

IBM has also released a beta version of Digital Asset Haven, which allows customers to manage stablecoins and other digital assets locally on IBM Z and LinuxONE systems. The setup keeps private keys within the customer's environment and uses IBM Crypto Express hardware security modules for protection.