AMINA Bank and Crypto Finance Pilot DLT for Enhanced Financial Transactions
Swiss financial institutions AMINA Bank and Crypto Finance have successfully completed a pilot program showcasing the potential of distributed ledger technology DLT to revolutionize cross-border payments. This pilot was conducted on the Google Cloud Universal Ledger GCUL platform, enabling near-real-time transaction settlements between Swiss-regulated banks while adhering to traditional banking security and compliance standards.
The pilot addresses significant inefficiencies in global payment systems, demonstrating that DLT can facilitate faster and more cost-effective transactions without the need for new digital currencies.
Google Cloud s GCUL is proof that innovation and stability aren t mutually exclusive
said Franz Bergmueller, AMINA Bank s CEO. The next phase of this initiative aims to scale the platform by onboarding more financial institutions and exploring enhanced cross-border payment capabilities.