IBM Links Systems to Swift Blockchain Ledger to Support Tokenized Deposit Transactions

IBM has linked its systems to Swift’s blockchain-based shared ledger to support tokenized deposit transactions by financial institutions.

Odaily reported on September 24 that IBM launched a new messaging adapter that enables financial institutions to conduct tokenized deposit transactions through ISO 20022, the international financial messaging standard.

Using the IBM adapter, banks can request the issuance, transfer and settlement of tokenized deposits through standardized messages within their existing payment systems. That reduces the burden of building a separate messaging framework for blockchain transactions.

IBM also connected its digital asset management platform, Digital Asset Haven, to Swift’s blockchain-based shared ledger. Swift’s shared ledger allows banks to issue deposits as blockchain-based tokens and supports 24/7 digital asset transfers between financial institutions.

IBM also unveiled a beta version of Digital Asset Haven running on IBM Z and LinuxONE systems. The service allows financial institutions to manage digital assets such as stablecoins and tokenized deposits in their own computing environments without relying on the public cloud.