AMINA Bank and Crypto Finance Group completed testing of a payment infrastructure built on distributed ledger technology (DLT) via the Google Cloud Universal Ledger (GCUL) platform. The experiment demonstrated that fiat settlements between financial institutions can be executed almost instantly.
In Switzerland, AMINA Bank, a regulated crypto bank, and Crypto Finance Group, an institutional platform for digital asset trading and custody under Deutsche Börse, carried out a joint pilot project showcasing the benefits of using DLT to modernize local settlement systems.
The experiment showed in particular that DLT systems can upgrade existing frameworks for cross-border and multi-currency payments without issuing new forms of digital money or altering current regulatory models. The participants tested round-the-clock near real-time settlements while preserving the security and compliance standards of the traditional banking sector.
Throughout the project, the Google Cloud Universal Ledger (GCUL) infrastructure enabled 24/7 transactions between regulated Swiss institutions. Crypto Finance Group acted as the operator for currency operations, handling bank onboarding, rules, and control of transaction execution. AMINA Bank integrated the solution into its infrastructure, giving clients access to settlements without changes to operational processes.
According to Franz Bergmueller, CEO of AMINA Bank, the experiment confirmed that innovation can be deployed and scaled without compromising stability, and that GCUL enables instant settlements in line with regulatory requirements. Matt Renner, President and Chief Revenue Officer of Google Cloud, emphasized that cloud infrastructure allows new payment solutions to be introduced without affecting banks’ deposit bases or lending activity. Stijn Vander Straeten, CEO of Crypto Finance Group, noted that the experiment lays the foundation for the next generation of financial markets and strengthens Switzerland’s position as a hub for digital finance.
Earlier, AMINA Bank obtained a crypto-asset service provider (CASP) license through its Austrian subsidiary, becoming the first pan-European crypto bank under MiCA.
