IBM Enhances Digital Asset Haven with Swift Blockchain Integration
- IBM has introduced beta connectivity to Swift’s blockchain-based ledger for tokenized deposits.
- The integration allows banks to use ISO 20022 messaging standards for transactions, streamlining compliance processes.
- Swift’s blockchain ledger was developed in collaboration with over 40 financial institutions and launched in July with an initial pilot group of 17 banks.
- HSBC and Standard Chartered completed the first live cross-border transaction on this ledger in August.
- The new on-premises option enables banks to run IBM’s platform on their own infrastructure without relying on public cloud services.
These developments mark a significant step towards integrating tokenized and traditional assets within the financial services industry, as noted by IBM’s Tom McPherson.
With the introduction of beta connectivity to Swift’s ledger, IBM aims to facilitate more efficient operations for banks managing digital assets through its Digital Asset Haven platform. (Source)
