IBM Links Digital Asset Platform to Swift's Shared Ledger
IBM has expanded its digital asset infrastructure strategy by connecting its Digital Asset Haven platform to Swift's blockchain-based shared ledger. This integration is designed to simplify the process of tokenized deposit transactions for financial institutions.
The new connection allows banks and other financial organizations to use standard ISO 20022 messaging to interact with tokenized deposits on Swift's ledger, potentially reducing the need for separate blockchain-specific transaction workflows.
Seventeen institutions are currently participating in pilot transactions involving tokenized deposits on the ledger, according to IBM's announcement. Tokenized deposits are digital representations of commercial bank deposits that differ from privately issued stablecoins because they represent claims on regulated financial institutions.
IBM is also testing an on-premises version of Digital Asset Haven for organizations that need to manage digital assets within their own data centers. This deployment option could give banks and other regulated institutions greater control over the infrastructure supporting digital assets, while addressing operational, security, and data-management requirements.