IBM Expands Digital Asset Platform With Swift Ledger Integration

IBM (NYSE: $IBM) is giving banks a new way to use Swift’s blockchain-based ledger to move tokenized deposits.

The company said Thursday that customers of IBM Digital Asset Haven can now connect to permissioned blockchain networks, including Swift’s shared ledger. A new beta feature lets banks use standard ISO 20022 payment messages to instruct tokenized deposit transactions.

That means banks can use payment processes they already know instead of creating separate workflows for blockchain transactions.

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Some financial institutions taking part in Swift’s tokenized deposit program have already tested the system through Digital Asset Haven, IBM said.

“The financial services industry is entering a new era where tokenized and traditional assets will need to move side by side,” said Tom McPherson, general manager of IBM Z and LinuxONE,…