AMINA Bank AG (“AMINA”) and Crypto Finance Group, together with other banking partners, have successfully completed a landmark pilot program demonstrating how distributed ledger technology (DLT) can modernise cross-border, cross-currency, and point-of-sale use cases. The pilot, conducted on the Google Cloud Universal Ledger platform (GCUL), enables near-real-time, 24/7 settlement of transactions in fiat currency between Swiss-regulated financial institutions while maintaining the security and compliance standards of traditional banking.
The pilot lays the groundwork in addressing critical inefficiencies in current global payment systems. To date, cross-border transactions can take days to settle and incur significant costs. By leveraging DLT for the underlying infrastructure while maintaining commercial bank money (wholesale), the pilot shows how payment modernisation can be achieved without creating new forms of digital currency or disrupting existing regulatory frameworks.
Franz Bergmueller, CEO of AMINA Bank, said: “Google Cloud’s GCUL is proof that innovation and stability aren’t mutually exclusive. With this pilot, we enabled near-real-time, compliant settlements within the existing banking framework. AMINA’s global reach and existing network of institutional partners makes us uniquely positioned to scale this pilot globally and to truly demonstrate DLT’s ability to transform the global financial system.”
“This pilot demonstrates how we are collectively enabling the next generation of financial markets,” said Stijn Vander Straeten, CEO of Crypto Finance Group. “As the Currency Operator for this pilot, we can build a trusted foundation for digital payments and tokenised assets. The success of this pilot strengthens Switzerland’s position as a leading hub for digital financial innovation.”
Modernising payment rails within existing Swiss frameworks
In this pilot program, Crypto Finance Group served as the designated Currency Operator, ensuring that transaction rules were clearly defined and that participants adhered to agreed processes on GCUL. Crypto Finance facilitated onboarding of participating banks and monitored compliance with the pilot framework, while settlement and payment execution were carried out directly by the respective parties.
AMINA Bank, alongside other institutions, embedded the technology at the core-banking stacks, granting select clients near-instant settlement with zero disruption to existing processes.
“We’re proud to support Switzerland’s vision for next-generation financial infrastructure,” said Matt Renner, President, Chief Revenue Officer, Google Cloud. “Cloud-native infrastructure has the ability to transform financial services, while respecting regulatory requirements. AMINA Bank and Crypto Finance’s pilot showcases how cutting-edge technology can facilitate near-instant, secure, compliant payments that work.”
GCUL’s high-performance distributed ledger technology enables 24/7, real-time transactions for traditional money and assets by integrating seamlessly with existing banking workflows. This model empowers institutions to build and launch innovative client services on Google’s secure and scalable infrastructure, without impacting their deposit base or lending activities.
The successful completion of this pilot establishes the foundation for broader implementation. The next phase involves scaling the platform by onboarding additional financial institutions, progressing from controlled testing to live operations, and ultimately introducing advanced capabilities such as cross-border payments and point-of-sale integrations for consumers.