IBM Taps Swift for Tokenized Deposits on Premises

IBM has announced two significant developments in its push into digital asset infrastructure. Firstly, it has launched a beta connectivity between its Digital Asset Haven and Swift's blockchain-based shared ledger. This integration allows banks to manage tokenized deposits and other digital assets within their own data centers.

The on-premises beta deployment is specifically designed for IBM Z and LinuxONE systems, targeting regulated clients who require control over their data. This move aims to increase stickiness for these high-end systems among banking customers.

Swift's ledger integration in beta taps into the network's existing infrastructure, easing bank adoption of tokenized deposits using ISO 20022. The inclusion of an ISO 20022 adapter for tokens enables banks to use their existing message formats, reducing integration friction.