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AMINA Bank and Deutsche Börse’s Crypto Finance Group completed a pilot on Google Cloud’s Universal Ledger (GCUL). The project tested instant fiat settlement between Swiss banks and used distributed ledger technology for domestic transactions. The initiative kept services available around the clock while all participants followed Swiss financial regulations.
AMINA Bank integrated GCUL into its core banking systems and offered a group of clients access to faster payments. Crypto Finance Group acted as Currency Operator, defined transaction rules, and coordinated onboarding for participating institutions. Settlement occurred directly between banks on the platform, which helped preserve existing governance structures and risk controls.
Project partners designed the pilot to show how distributed ledger technology can modernise payment infrastructure without new digital currencies. The model used programmable commercial bank money as the settlement asset, which fits within current supervisory frameworks in Switzerland. As a result, institutions tested new payment rails while current oversight structures remained in place.
GCUL supported continuous, 24/7 account-to-account transfers and point-of-sale style transactions. The platform also created a foundation for future tokenised asset settlement. Institutions gained faster processing and improved transparency for transaction flows, while compliance teams continued to apply standard monitoring and reporting processes.
AMINA Bank chief executive Franz Bergmueller stated that the pilot proved innovation can progress without sacrificing stability. Crypto Finance Group chief executive Stijn Vander Straeten highlighted the role of Currency Operator as a way to create a trusted base for digital payments and tokenised assets. Google Cloud president and chief revenue officer Matt Renner described GCUL as cloud-native infrastructure that supports secure, compliant real-time payments.
The pilot reinforced Switzerland’s position as a leading centre for regulated digital asset innovation. Swiss institutions combined strict regulatory standards with cloud-based DLT which created a practical example for global markets that plan to modernise payments. Other jurisdictions can study this approach to understand how to upgrade settlement systems while existing rules remain intact.
The next phase of the project focuses on scaling the Universal Ledger platform and moving from controlled testing into live operations. AMINA Bank and Crypto Finance Group plan to onboard additional financial institutions and expand use cases to cross-border and cross-currency payments. Future trials also include point-of-sale integrations for merchants and retail-facing services.
In parallel, AMINA Bank continues to extend digital asset services in other markets. The bank’s Hong Kong subsidiary recently received approval to provide spot crypto trading and custody to professional investors. This broader expansion strategy supports the bank’s role in shaping real-time payment and tokenisation models in global finance. The combined efforts highlight Switzerland’s ambition to modernise financial infrastructure with instant, compliant settlement.
Also Read: How Is Ripple Labs Taking on Traditional Finance After Conquering Crypto?
