Swiss Financial Institutions Demonstrate Cross-Border Payments Using Google Cloud Ledger
Swiss financial institutions AMINA Bank and Crypto Finance have completed a pilot program demonstrating distributed ledger technology’s (DLT) potential to modernize cross-border payments. Conducted on the Google Cloud Universal Ledger (GCUL) platform, the pilot enables near-real-time, 24/7 settlement of transactions between Swiss-regulated banks while maintaining traditional banking security and compliance standards.
The pilot addresses critical inefficiencies in global payment systems, showcasing how DLT can facilitate faster, more cost-effective transactions without creating 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 aims to scale the platform by onboarding additional financial institutions and exploring advanced cross-border payment capabilities.
