IBM Connects Banks To Swift’s Blockchain Ledger For Tokenized Deposits
IBM Digital Asset Haven can now connect financial institutions to Swift’s blockchain-based shared ledger through a beta integration. Banks can instruct tokenized-deposit transactions using existing ISO 20022 payment messages. Swift’s ledger is already being tested by 17 first-mover institutions, while IBM is also adding an on-premises version of Digital Asset Haven. **ID:** N25-05 **Site:** NewsBTC **Status:** READY **Author:** NewsBTC Editorial Team **Focus Keyword:** IBM **Image Keyword:** Tokenization **Category:** Technology **Tags:** IBM, Swift, Tokenized Deposits, Banking, Blockchain **Primary Source:** https://newsroom.ibm.com/ Banks Can Keep The Message Format They Already Know That may sound like a small technical detail. For banks, it is probably the point. One of the biggest obstacles to institutional blockchain adoption is not whether a distributed ledger can move an asset. It is whether the new system can connect to the compliance, messaging and operational infrastructure institutions already run. IBM’s new adapter lets banks send instructions to Swift’s tokenized-deposit ledger using existing payment-message formats rather than forcing staff and systems to work through blockchain-specific interfaces. Swift connects more than 12,500 financial institutions across over 200 markets. Its shared ledger is designed around bank-issued tokenized deposits, with transactions able to move around the clock before final settlement through established systems. IBM says 17 first-mover institutions are already involved in testing the model. Digital Asset Haven Is Also Moving Inside The Bank IBM is simultaneously introducing an on-premises beta version of Digital Asset Haven. That allows institutions to run the digital-asset platform inside their own data centers using IBM Z and LinuxONE infrastructure rather than depending on public-cloud deployment. For heavily regulated banks, that level of control can matter as much as blockchain functionality itself. Tokenized deposits are emerging as one of the banking industry’s preferred responses to stablecoins.
Key Takeaways
- IBM Digital Asset Haven can now connect financial institutions to Swift’s blockchain-based shared ledger through a beta integration.
- Banks can instruct tokenized-deposit transactions using existing ISO 20022 payment messages.
- Swift’s ledger is already being tested by 17 first-mover institutions, while IBM is also adding an on-premises version of Digital Asset Haven.
Summary generated by IndiCrypto from NewsBTC. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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