Main notes
- The Swiss Banking Alliance cooperated with Postfinance, SYGNUM Bank and UBS for a pioneering Blockchain Pay.
- The program tested both the premium deposit code and the Blockchain -based security transactions for the exchange of assets.
- Switzerland continues to advance as a Blockchain Research Center despite the central bank frequency on bitcoin reserves.
The Swiss Banking Alliance conducted, in partnership with Postfinance, SYGNUM Bank, and UBS, the first transaction to pay a binding bank in all law that was facilitated by a group of public Blockchain.
According to a study published by the coalitionThe group conducted a pilot program to investigate the validity of smart contracts and deposits based on the distinctive symbol compared to traditional accounting banking systems.
The “Distinguished Code” trial for bank deposit trading has tested on the general Blockchain to ensure its stability and compatibility with the Swiss banking bases and organizational policies. Meanwhile, a separate experience under the same pilot included the use of Blockchain to implement warranty transactions to exchange distinctive symbols of assets in the real world.
According to the results of the study, both experiments were successfully conducted in transactions between banks through three banks for the first time. Moreover, the experimental program showed how organized financial institutions can deal in a mutual interior operation, which paves the way for the new residents in payments and settlement. “
Serious Blockchain leadership in Switzerland
Switzerland has increased its activity in the cryptocurrency and Blockchain space over the past two years, to quickly become one of the research centers in the booming sector. As Coinspeaker reported in June, the Federal Council in Switzerland agreed to exchange cryptical currency information with 74 countries in the hope of increasing security, transparency and inter -state operation.
However, in April 2025, the President of the Swiss National Bank (SNB), Martin Sheliel, announced that the country’s plans to add bitcoin to its reserves had stopped fears related to the perceived risks associated with the encrypted currency. According to reports at the time, Sildel claimed that digital assets do not meet the minimum standards of currency reserves.
Perhaps the SBA study above will shed light on how to design Blockchain techniques to reduce many risks associated with the use of digital assets in the traditional banking environment.
the next
Slip: Coinspeaker is committed to providing unbiased and transparent reports. This article aims to provide accurate and timely information, but it should not be considered financial or investment advice. Since market conditions can change quickly, we encourage you to check your information and consult with a professional before making any decisions based on this content.
Tristan is a technology journalist and editor -in -chief with 8 years of experience in covering science, technology, financing, politics and business. Before joining Coinspeaker, he wrote for Cointelegraph and TNW.
The post Swiss Bankers Association Conducts First Legally Binding Bank Payment Via Public Blockchain first appeared on Investorempires.com.
