IBM expands its digital asset platform. It connects to Swift's blockchain-based shared ledger. This integration is in a beta phase. Financial institutions using IBM's Digital Asset Haven will process tokenized deposit transactions through Swift's network. Swift's network connects over 12,500 institutions globally.
The connection utilizes the standard ISO 20022 messaging format. This enables banks to use existing payment systems and workflows. It also avoids developing new, blockchain-specific systems. IBM concurrently launched an on-premises beta version of its platform. This allows regulated organizations to manage digital assets within their own data centers. This provides enhanced security.