IBM links Digital Asset Haven to Swift ledger for tokenized deposits

IBM added beta connectivity between Digital Asset Haven and Swift's blockchain-based ledger for tokenized deposits. IBM also added a beta option for banks and other regulated institutions to run the platform in their own data centers. Financial institutions in Swift's program have tested tokenized deposits on the ledger through the platform. A messaging adapter lets institutions instruct tokenized deposit transactions using ISO 20022. Banks can use existing payment formats and compliance processes instead of building blockchain-specific workflows. Swift developed the ledger with more than 40 financial institutions. Swift launched the ledger in July with 17 banks in its initial pilot group. HSBC and Standard Chartered completed the first live cross-border transaction on the ledger in August. The on-premises option will run on IBM Z and LinuxONE infrastructure without relying on public cloud services. Banks and other regulated institutions can keep their digital asset operations and key management within their own data centers.