IBM has connected its Digital Asset Haven platform to Swift’s shared blockchain ledger, letting bank clients instruct tokenized deposit transactions, according to The Block.

The link is running in beta and allows banks to use existing payment messages and compliance processes to move tokenized deposits, according to Cointelegraph and The Defiant. Final settlement of these transactions still occurs on established banking systems rather than on the blockchain ledger itself, according to The Defiant.

Separately, the UK’s largest banks completed what CoinDesk described as the world’s first interbank transactions using tokenized deposits, marking a parallel step toward bank-to-bank settlement using tokenized forms of commercial bank money.

In the United States, the Commodity Futures Trading Commission said commodities firms are permitted to invest in tokenized assets and to use blockchain-based records, according to CoinDesk. The guidance opens a path for regulated commodities market participants to hold tokenized instruments and rely on distributed ledger recordkeeping.

Together, the developments touch on both the messaging layer connecting banks through Swift and the regulatory treatment of tokenized assets in commodities markets, spanning IBM’s infrastructure work, UK bank settlement activity, and US regulatory clearance.

Sources: The Block, Cointelegraph, CoinDesk, The Defiant

This article is for information only and is not financial advice.