IBM links Digital Asset Haven to Swift's blockchain ledger in beta

IBM opens a beta link between Haven and Swift's ledger

IBM has connected its Digital Asset Haven platform to Swift's blockchain-based shared ledger in a beta offering. The link lets participating institutions send instructions for tokenized-deposit transactions using the same payment-message standard they already use.

IBM announced the connection on Sept. 24. It includes a new ISO 20022 Messaging Adapter, which is a tool that lets banks use standard payment messages instead of building blockchain-specific workflows. According to the report, banks can keep their existing operational and compliance processes.

A tokenized deposit is a bank deposit represented as a digital token on a ledger. Under this setup, final settlement still happens outside the blockchain.

Key points

• Haven clients get access to Swift's tokenized-deposit network without rebuilding their payment operations.
• Swift's ledger coordinates bank-issued tokenized deposits held on the participating banks' own ledgers.
• Funds can move overnight and on weekends before existing systems complete settlement.
• Haven supplies wallet infrastructure, key management, transaction signing, policy-based controls and Hyperledger Besu connectivity, while Swift provides the coordination layer.
• Final settlement is handled by established systems, including real-time gross settlement infrastructure.

What IBM announced and how Haven fits in

IBM introduced Haven in October 2025 as a platform for digital-asset custody and transaction management. For the Swift connection, Haven provides the wallet and transaction tools, and Swift provides the coordination layer.

IBM's technical description says Haven supplies wallet infrastructure, key management, transaction signing, policy-based controls and Hyperledger Besu connectivity. Besu is used to connect to blockchain networks.

Which banks are involved

The beta connection is for Haven clients taking part in Swift's ledger program. IBM said institutions already in that program had successfully tested tokenized deposits with Haven, but it did not name them.

Swift's initial live-pilot group has 17 banks across six continents, including HSBC, Standard Chartered, Citi, DBS, Lloyds Bank, UBS and Wells Fargo. The report notes these are participants in Swift's ledger program, not a disclosed list of IBM users.

The ledger has already handled live transactions. HSBC and Standard Chartered completed its first live cross-border tokenized-deposit transaction, as Converge reported in August. HSBC said the banks recorded obligations on their separate platforms, with Swift's ledger matching and netting them before final settlement through existing systems.

What is confirmed

Confirmed by the sources: IBM announced the Swift connection on Sept. 24 and described it as a beta offering with a new ISO 20022 Messaging Adapter. Haven was introduced in October 2025. Swift's ledger has already processed a live cross-border tokenized-deposit transaction between HSBC and Standard Chartered, and Swift's live-pilot group includes 17 banks.

What is still unclear

IBM did not name the institutions that tested tokenized deposits with Haven. It also did not disclose whether any of the 17 banks in Swift's pilot group are Haven users. No launch date for a full, non-beta offering was provided.

Why it matters for banks and tokenized deposits

The practical change is that Haven clients can reach Swift's tokenized-deposit network without rebuilding their payment operations. Banks can use standard payment messages rather than create blockchain-specific workflows, and they can keep their existing compliance and operational processes. Funds can move overnight and on weekends, while final settlement stays on established banking systems.

What happens next

Swift has said it will expand the ledger's functionality and availability after the initial controlled go-live phase. The sources did not give a date for that expansion.

Sources

• The Defiant
• IBM newsroom announcement