AMINA Bank and Crypto Finance Group complete a pilot project for near-instant fiat payments via Google Cloud Universal Ledger, paving the way to modernize payments infrastructure without issuing new digital currencies.
Two leading Swiss financial institutions have demonstrated the application of Distributed Ledger Technology to traditional payment systems. AMINA Bank, a regulated digital asset bank, and Crypto Finance Group of Deutsche Börse have successfully implemented a pilot project using the Google Cloud Universal Ledger (GCUL) platform to process fiat currency transactions between financial institutions.
The breakthrough of the trial was to demonstrate that the DLT system can enhance the existing framework for cross-border and multi-currency payments without requiring the issuance of new digital currencies or changes to the legal model. The participants demonstrated the ability to make payments 24/7 in near real-time, while maintaining full banking industry safety and compliance standards.
Clear Vai assignment in the new ecosystem
Throughout the project, Crypto Finance Group plays a Vai in operating the currency operations, including onboarding participating banks, setting up rules and controlling transaction execution. AMINA Bank integrates the solution directly into its infrastructure, allowing customers to use the new payment service without adjusting existing operational processes.
Franz Bergmueller, CEO of AMINA Bank, said the trial confirmed that technological innovation can be deployed and scaled without compromising system stability. Matt Renner, President and Chief Revenue Officer of Google Cloud, emphasized that cloud computing infrastructure allows advanced payment solutions to be implemented without impacting core banking activities such as Capital mobilization or lending.
Stijn Vander Straeten, CEO of Crypto Finance Group, said the project lays the foundation for the next generation of financial markets and strengthens Switzerland's position as a global digital finance hub. AMINA Bank has previously become the first pan-European digital asset bank to receive a CASP license under the MiCA framework through its Austrian subsidiary.
