Swiss crypto bank Amina Bank completes DLT settlement testing via Google Cloud

Swiss crypto bank Amina Bank, along with Crypto Finance Group and its partner banks, recently completed a pilot project using Google Cloud Universal Ledger for distributed ledger technology (DLT): achieving fiat settlements between regulated banks in Switzerland, reaching near real-time, 24/7 availability.

The pilot did not introduce a new digital currency but continued to use traditional commercial bank funds, demonstrating that DLT technology can seamlessly integrate with traditional banking systems within the existing regulatory and compliance framework. Officials stated that this achievement lays the groundwork for future promotion of "cross-border payments," "multi-currency settlements," and "point of sale (POS) integrated payments," indicating that the traditional financial system may be on the verge of a Web3/blockchain infrastructure transformation.