Overview

• UBS, PostFinance, and Sygnum completed the trial under the Swiss Bankers Association, confirming legal settlement between banks without the traditional payment rails.
• The test used deposit tokens, which tokenize fiat transfer instructions on a public blockchain to enable programmable money movements.
• Transactions were executed on Ethereum within a permissioned framework and included peer-to-peer payments across banks and an escrow-like swap with tokenized assets.
• UBS digital assets lead Christoph Puhr said the exercise indicates interoperability of bank money over public blockchains can become a reality.
• The SBA emphasized that broader participation and design adjustments are required before any production rollout or scaling across more complex financial systems.