Swiss Banks Complete DLT Pilot for Real-Time Settlements

According to ChainCatcher, Swiss crypto bank Amina Bank, in collaboration with Crypto Finance Group and its partner banks, has successfully completed a distributed ledger technology (DLT) pilot using Google Cloud Universal Ledger. This initiative enables near real-time, 24/7 fiat currency settlements between Swiss regulated banks. The pilot did not introduce any new digital currencies but continued to use traditional commercial bank funds. This demonstrates that DLT technology can seamlessly integrate with traditional banking systems within existing regulatory and compliance frameworks. Officials stated that this achievement lays the groundwork for future advancements in 'cross-border payments,' 'multi-currency settlements,' and 'point-of-sale (POS) integrated payments,' indicating a potential transformation of the traditional financial system towards Web3 and blockchain infrastructure.