IBM taps wallet-as-a-service provider Dfns for new enterprise-grade 'Digital Asset Haven'

IBM is launching a platform for institutions, governments, and corporations to manage “digital asset operations,” according to an announcement on Monday. The platform, dubbed IBM Digital Asset Haven, was developed in collaboration with Coinbase-backed wallet-as-a-service provider Dfns. 

“Banks and governments now have a single solution to manage their digital asset lifecycle – from custody to transactions to settlement – that helps them meet compliance obligations while being integration-ready,” IBM wrote in an announcement. 

According to the announcement, IBM Digital Asset Haven’s transaction lifecycle management will support 40 public and private blockchains. The tool also supports programmable multi-party approvals and other “pre-integrated services” like KYC identity verification, anti-money laundering protections, yield generation, and other blockchain features. 

The idea is to create a unified solution for enterprise users, enabling them to create wallets, execute transactions, custody funds, and secure their keys. 

IBM has over a decade of experience in the blockchain sector, particularly with permissioned, enterprise-grade frameworks like Hyperledger. 

Dfns has an existing relationship with IBM, including a recent integration with IBM’s Hyper Protect Virtual Servers to bring hardware-backed security to its institutional wallets.

In 2022, Dfns raised approximately $13.5 million in a seed round led by White Star Capital. Coinbase Ventures participated alongside investors like Hashed, Susquehanna, ABN AMRO Ventures, Bpifrance, Semantic Ventures, and others. It also raised a $16 million Series A in 2024.