IBM opens beta Swift ledger link for 24/7 tokenized deposits

The useful part

IBM's beta link lets banks instruct tokenized deposit transfers on Swift's ledger using existing payment messages and compliance processes. IBM has added beta connectivity to Swift's blockchain-based ledger for tokenized deposits and a beta option for banks to run IBM's digital asset platform in their own data centers. IBM on Thursday announced the two additions to its Digital Asset Haven platform.

How it works

• IBM said banks can use existing payment formats and compliance processes instead of building blockchain-specific workflows.
• Financial institutions participating in Swift's program have tested tokenized deposits on the ledger using the platform, IBM said.

Details worth keeping

Digital Asset Haven, IBM's platform for banks and other regulated institutions to manage and secure digital assets, now includes a messaging adapter that lets institutions instruct tokenized deposit transactions using ISO 20022, the global standard for financial messaging.