IBM links Digital Asset Haven to Swift’s tokenized deposit ledger

IBM has connected its Digital Asset Haven platform to Swift’s blockchain-based shared ledger in a beta release, giving banks a way to test tokenized deposit transactions through familiar payment messages, according to IBM’s announcement. Tokenized deposits are bank deposits represented as digital tokens. IBM said participating financial institutions have already tested them on the ledger using Haven.

How will banks send instructions through the ledger?

They can use an ISO 20022 messaging adapter, which lets banks send payment instructions in a standard format used across existing payment systems. IBM says the beta adapter allows institutions to instruct tokenized deposit transactions through Swift’s shared ledger, building on their current message formats and operating processes instead of creating blockchain-specific workflows.

IBM Digital Asset Haven provides wallet infrastructure and a connection to the ledger. Its tools also include key management, transaction signing and policy controls, according to IBM. The Block reported on the integration and said the adapter is in beta.

What does Swift’s ledger do with the deposits?

Swift describes the ledger as an orchestration layer for bank-issued tokenized deposits held on banks’ own ledgers. It is designed to let participating banks move funds for customers at any time, including overnight and weekends, before final settlement through existing systems. That means the shared ledger coordinates payment activity; it does not replace the systems banks use for final settlement.

Swift said in July that 17 banks from six continents were preparing to pilot live transactions. More than 40 financial institutions helped design the ledger, which Swift said moved from concept to initial use in nine months. IBM says some institutions in the program have tested tokenized deposits with Haven, but its announcement does not name them or give transaction volumes.

Is the integration live for all banks?

No. IBM describes the connection and messaging adapter as beta capabilities. Its announcement says participating clients can move digital assets around the clock ahead of final settlement, but it does not say that the integration is generally available or that live cross-border payments using Haven have launched.

The announcement also includes a separate beta: an on-premises version of Digital Asset Haven. It is designed to run in a client’s own data center on IBM Z or LinuxONE, without relying on public cloud infrastructure. IBM says both the platform and its key management layer can remain in the client’s environment. The option expands how institutions can deploy Haven, while the Swift connection gives them a way to test tokenized payment instructions using existing banking standards.