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

IBM has added beta connectivity between its Digital Asset Haven platform and Swift’s blockchain-based ledger for tokenized deposits, including a messaging adapter that accepts ISO 20022 payment messages. The company also introduced a beta on-premises deployment option enabling banks to run its digital asset platform on IBM Z and LinuxONE hardware within their own data centers.

By AI Newsroom· Reviewed by Pranav, Founder & Editor-in-ChiefPublished 1 minute agoUpdated 1 minute ago0 views

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

Why It Matters

The integration allows banks to instruct tokenized deposit transfers using existing payment formats and compliance processes rather than building new blockchain-specific workflows, potentially easing operational integration. The on-premises option addresses custody and control concerns by letting regulated institutions keep digital asset operations and key management inside their own infrastructure.

Key Facts

Announcement: IBM added beta connectivity to Swift's blockchain ledger and a beta on-premises option for Digital Asset Haven.
Messaging standard: The platform's new adapter accepts ISO 20022 messages.
Swift pilot: Swift developed the blockchain ledger with more than 40 financial institutions and launched a pilot in July with 17 banks.
Pilot participants: Initial pilot banks included HSBC, Citi, BNP Paribas, UBS and Standard Chartered.
Live transaction: HSBC and Standard Chartered completed the first live cross-border transaction on the ledger in August.

IBM announced that its Digital Asset Haven platform now includes beta connectivity to Swift’s blockchain-based ledger for tokenized deposits, plus a beta option for running the platform on-premises. The new messaging adapter enables institutions to send instructions for tokenized deposit transfers using ISO 20022, the global financial messaging standard. IBM said this lets banks reuse existing payment message formats and compliance processes instead of building blockchain-specific workflows.

The connectivity is part of a broader effort around Swift’s distributed ledger, which was developed with participation from more than 40 financial institutions and launched its pilot program in July with 17 banks. Among those participants were major global banks including HSBC, Citi, BNP Paribas, UBS and Standard Chartered. In August, HSBC and Standard Chartered executed the first live cross-border transaction on Swift’s ledger.

In addition to the messaging adapter, IBM is offering a beta on-premises deployment of Digital Asset Haven that runs on IBM Z and LinuxONE systems. IBM said this option does not rely on public cloud services and is aimed at banks and other regulated institutions that wish to keep digital asset operations and key management inside their own data centers.

IBM framed the updates as supporting an industry transition in which tokenized and traditional assets will operate side by side. Financial institutions participating in Swift’s program have already tested tokenized deposits on the ledger using IBM’s platform, according to IBM’s announcement.