Swiss banks UBS, PostFinance and Sygnum completed a proof of concept showing a legally binding bank payment via a public blockchain using tokenized deposit instructions and smart contracts to trigger off‑chain fiat settlement between institutions.
-
First legally binding interbank payment via a public blockchain
-
PoC used deposit tokens and smart contracts to trigger off‑chain settlement and escrow-style asset exchange.
-
Study confirms feasibility but highlights scalability and coordination challenges with wider adoption.
Public blockchain bank payment feasibility confirmed by UBS, PostFinance and Sygnum — read the PoC findings and next steps for tokenized payments.
UBS, Sygnum Bank and PostFinance completed a blockchain study proving the technology’s efficacy for bank deposits and institutional payment infrastructure.
‘,
‘
🚀 Advanced Trading Tools Await You!
Maximize your potential. Join now and start trading!
‘,
‘
📈 Professional Trading Platform
Leverage advanced tools and a wide range of coins to boost your investments. Sign up now!
‘
];
var adplace = document.getElementById(“ads-bitget”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex;
adplace.innerHTML = adscodesBitget[adsindex];
sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexBitget”, sessperindex);
}
})();
Some of Switzerland’s largest banks have completed a proof of concept (PoC) that tested blockchain technology and smart contracts for interbank payments, marking what they say is the first legally binding bank payment via a public blockchain.
Under the umbrella of the Swiss Bankers Association (SBA), UBS, PostFinance and Sygnum Bank conducted a feasibility study on blockchain-based deposit tokens and payments infrastructure, the SBA announced Tuesday.
What is the PoC that proved a bank payment via a public blockchain?
The PoC tokenized payment instructions as deposit tokens on a public blockchain and used smart contracts to trigger off‑chain fiat settlement between participating banks. It executed customer payments between banks and an escrow-like exchange of deposit tokens for tokenized real‑world assets (RWAs).
How did the deposit token mechanism work?
The system recorded payment instructions on a public blockchain and used smart contracts for verifiable workflows. Banks executed the corresponding off‑chain fiat transfer once the on‑chain conditions were met, enabling legally binding settlement while keeping the fiat move off‑chain.
‘,
‘
🔒 Secure and Fast Transactions
Diversify your investments with a wide range of coins. Join now!
‘,
‘
💎 The Easiest Way to Invest in Crypto
Dont wait to get started. Click now and discover the advantages!
‘
];
var adplace = document.getElementById(“ads-binance”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexBinance”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBinance.length) : sessperindex;
adplace.innerHTML = adscodesBinance[adsindex];
sessperindex = adsindex === adscodesBinance.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexBinance”, sessperindex);
}
})();
The Swiss Bankers Association reported that the combination of public blockchains with permissioned applications and compliant smart contracts produced verifiable processes and technical security that meet legal and regulatory requirements under Swiss frameworks.
While the PoC confirmed feasibility, the SBA highlighted the need for additional design adjustments, broader cooperation with other banks, infrastructure providers and authorities, and improved throughput to reach production scale.
Christoph Puhr, digital assets lead at UBS Group, said the PoC demonstrates that interoperability of bank money via public blockchains “can become a reality,” enabling innovation around tokenized assets and the future of financial systems.
‘
];
var adplace = document.getElementById(“ads-htx”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexHtx”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesHtx.length) : sessperindex;
adplace.innerHTML = adscodesHtx[adsindex];
sessperindex = adsindex === adscodesHtx.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexHtx”, sessperindex);
}
})();
Source: https://en.coinotag.com/ubs-led-swiss-poc-suggests-public-blockchains-like-solana-could-support-legally-binding-bank-deposit-payments/
