Finance · updated 2h ago · 2 min read
IBM Connects Digital Asset Haven to Swift Blockchain Ledger for Tokenized Deposit Transactions
IBM connected Digital Asset Haven to Swift's blockchain ledger for tokenized deposits. An ISO 20022 adapter enables issuing, transferring, and settling tokenized deposits via existing payments.
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IBM and Swift Ledger
IBM connected its digital asset management platform to the blockchain-based shared ledger operated by the Society for Worldwide Interbank Financial Telecommunication (Swift) to enable financial institutions to issue, transfer, and settle tokenized deposits using existing payment messaging infrastructure. A new message adapter allows financial institutions to process tokenized deposit transactions through ISO 20022, the global financial messaging standard. IBM also connected its digital asset management platform, Digital Asset Haven, to Swift's blockchain shared ledger, and IBM released Digital Asset Haven in beta form running on IBM Z and LinuxONE systems.
Swift’s shared ledger supports banks in issuing deposits as blockchain-based tokens and transferring digital assets between financial institutions around the clock, 365 days a year. IBM framed the integration as blockchain technology layering on top of, not replacing, existing financial messaging networks, with Swift described as the backbone of interbank communications worldwide.
Pilot Banks and 24/7
17 global banks are testing tokenized deposits for potential 24/7 cross-border payments, and it listed banks including Standard Chartered, ANZ, BNY, Citi, BNP Paribas, First Abu Dhabi Bank, FirstRand, DBS, HSBC, Itaú Unibanco, Lloyds Bank, Mashreq, MUFG, OCBC, UBS, UOB and Wells Fargo. Swift noted in July that 17 banks had joined the first group to test actual transactions using tokenized deposits. The Block said Swift’s ledger supports bank-issued tokenized deposits and allows participating IBM clients to move digital assets 24/7, with final settlement taking place through existing systems.
TradingView said Swift developed the blockchain ledger with more than 40 financial institutions and launched it in July with 17 banks in its initial pilot group, including HSBC, Citi, BNP Paribas, UBS and Standard Chartered. TradingView added that HSBC and Standard Chartered completed the first live cross-border transaction on the ledger in August.
On-Prem Beta and Controls
IBM opened an on-premises beta for Digital Asset Haven so regulated institutions can manage digital assets such as stablecoins and tokenized deposits within their own computing environments without depending on public cloud services. IBM said the on-premises beta runs on IBM Z and IBM LinuxONE systems, and it described the deployment as keeping the software layer and key-management infrastructure inside the client’s own data center. IBM’s newsroom release said the beta offering lets IBM Digital Asset Haven clients connect to permissioned blockchain networks, including Swift’s blockchain-based shared ledger, while enabling clients to manage digital asset operations entirely within their own data centers.
The Block said IBM’s on-premises option can be installed on IBM Z and IBM LinuxONE in a client’s own data center to manage digital assets such as stablecoins and tokenized deposits without relying on public cloud infrastructure. IBM’s integration also relied on an ISO 20022 Messaging Adapter so institutions can instruct tokenized deposit transactions using standard ISO 20022 messages instead of creating separate blockchain-specific payment workflows.