IBM connects Digital Asset Haven to Swift blockchain ledger to support tokenized deposit transactions

PANews reported on September 24 that according to TheBlock, IBM announced that customers of its digital asset management and security platform IBM Digital Asset Haven can now connect to permissioned blockchain networks including Swift’s blockchain-based shared ledger. The newly launched ISO 20022 message adapter beta allows institutions to initiate tokenized deposit transactions on the ledger via standard payment messages.

Financial institutions participating in the Swift project have used Digital Asset Haven to complete tests of tokenized deposits on the ledger, IBM said. The ledger supports bank-issued tokenized deposits and is designed to help participating IBM clients achieve 24/7 transfers of digital assets, with final settlement still completed through existing systems. The message adapter enables banks to develop based on existing payment message formats and operational processes without introducing blockchain-specific workflows.