365Crypto
Swiss banks UBS, Sygnum, and PostFinance tested blockchain for real bank payments.
They ran a study under the Swiss Bankers Association to see if deposits and transactions could work on a public blockchain.
How It Worked
Banks created “deposit tokens” on the blockchain. One test sent money between bank customers. Another swapped tokens for real-world assets, like an escrow system.
This is the first legally binding bank payment using public blockchain technology.
Challenges
Smart contracts ensured security and compliance. But scaling the system needs more design and cooperation with other banks and authorities.
What’s Next
The test shows blockchain could link traditional and DeFi systems. UBS says interoperability is now realistic, speeding innovation in tokenized assets.
