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Swiss encryption bank Amina Bank has completed DLT settlement testing conducted through Google Cloud.
ChainCatcher news, Swiss crypto bank Amina Bank, along with Crypto Finance Group and its partner banks, recently completed a pilot of Distributed Ledger Technology (DLT) through Google Cloud Universal Ledger: achieving fiat settlement between regulated banks in Switzerland, reaching near real-time, 24/7 availability. This pilot did not introduce new digital money but continued to use traditional commercial bank funds, demonstrating how DLT technology can seamlessly integrate into the existing regulatory and compliance framework of traditional banking systems. Officials stated that this achievement lays the foundation for future promotion of “cross-border payments,” “multi-currency settlements,” and “integrated payments at physical points of sale (POS),” indicating that the traditional financial system may be on the verge of a Web3 / Blockchain infrastructure transformation.