IBM has launched a beta connection between its Digital Asset Haven platform and the Swift blockchain-based ledger. This integration allows financial institutions to manage tokenized deposit transfers using standard ISO 20022 financial messaging formats.
The new messaging adapter enables banks to execute transactions through existing payment workflows and compliance processes. This approach removes the need for organizations to develop new infrastructure specifically for blockchain operations.
Additionally, IBM introduced an on-premises deployment option for its digital asset platform. This feature runs on IBM Z and LinuxONE hardware, allowing institutions to maintain control over their digital assets and key management within their own data centers.
The Swift blockchain ledger was developed in collaboration with over 40 financial institutions. It launched in July with an initial pilot group of 17 banks, including major entities such as Citi, HSBC, BNP Paribas, UBS, and Standard Chartered.
