Swiss banks have successfully executed the first bank payment on a public blockchain with full legal approval, marking a breakthrough in regulated digital finance.
The trial, led by the Swiss Bankers Association (SBA), included UBS, PostFinance, and Sygnum Bank. It focused on deposit tokens, digital representations of bank money, that triggered fiat transfers once blockchain instructions were executed. The process also allowed tokenized real-world assets to be exchanged, demonstrating blockchain’s ability to support traditional money under regulatory oversight.
Smart contracts managed compliance and security, ensuring transactions were automatic and legally recognized. Christoph Puhr, digital assets lead at UBS, said the trial “demonstrates that interoperability of bank money via public blockchains can become a reality.”
The SBA emphasized that scaling such systems will require broader collaboration between banks, regulators, and infrastructure providers. Still, the successful test marks an important step toward blockchain-based settlement becoming part of mainstream banking operations.
You need to login in order to Like
Leave a comment