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Three Swiss Banks Complete Ethereum Cross-Border Payment Pilot
Summary: Swiss banks UBS, PostFinance, and Sygnum have completed a cross-border payment test on the Ethereum public blockchain, using Deposit Tokens for interbank compliant settlements without relying on traditional payment systems. The pilot included peer-to-peer transfers between customers and the exchange of Deposit Tokens and assets, confirming the feasibility of the technology and legal framework. The ...
Swiss banks UBS, PostFinance, and Sygnum have completed a cross-border payment test on the Ethereum public blockchain, using Deposit Tokens for interbank compliant settlements without relying on traditional payment systems. The pilot included peer-to-peer transfers between customers and the exchange of Deposit Tokens and assets, confirming the feasibility of the technology and legal framework. The three banks have stated that the next step is to involve more banks, infrastructure, and regulatory bodies to explore the scalability of the system. (CoinDesk)
