IBM has launched beta connectivity to Swift’s blockchain-based ledger for tokenized deposits, integrated into its Digital Asset Haven platform. This solution enables banks to process tokenized deposit transfers using the ISO 20022 financial messaging standard while leveraging existing compliance frameworks without building blockchain-specific workflows. Swift developed the ledger in collaboration with over 40 financial institutions and launched it in July with an initial pilot group of 17 banks, including HSBC, Citi, BNP Paribas, UBS and Standard Chartered. HSBC and Standard Chartered completed the first live cross-border transaction on the ledger in August. IBM also offers an on-premise option running on IBM Z and LinuxONE infrastructure, allowing regulated institutions to keep their digital asset operations and key management within their own data centers.
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