The financial markets are undergoing a radical transformation, driven by the demand for real-time and always-available services. However, the infrastructure that enables money transfers between banks still struggles to keep pace with this evolution. In this context, a pioneering initiative led by Crypto Finance Group, AMINA Bank, and Incore Bank marks a decisive step towards the modernization of payment systems.
The Pilot on Google Cloud Universal Ledger: A Technological Leap
On April 9, 2026, the three institutions announced the completion of the second phase of their payment infrastructure pilot, based on Google Cloud Universal Ledger (GCUL). This project demonstrated the possibility of conducting near-instant account-to-account transfers between regulated banks, in a real production environment.
Unlike other experiments based on blockchain, this pilot managed real customer transactions without altering existing regulatory frameworks and using commercial bank money. A distinctive element was the ability to consolidate multiple transfers into a single clearing operation between banks, directly integrating anti-money laundering (AML) controls into the transaction flow.
Efficiency and Security Without Compromise
The pilot demonstrated how technology can optimize payment operations without introducing new forms of digital currency or compromising trust. AML checks and sanctions were integrated into the process, ensuring compliance and high standards of data privacy.
According to Stijn Vander Straeten, CEO of Crypto Finance Group, “we are moving towards a more connected financial system, where money and assets can be settled in real-time without sacrificing trust. This pilot demonstrates how this is possible in practice: regulated banks, production-level processes, and a shared platform that eliminates friction.”
An Infrastructure Ready for the Future
The second phase of the pilot saw participating banks process live transactions in a production environment, marking an evolution from the proof of concept in November 2025. Franz Bergmueller, CEO of AMINA, emphasized how the project validated the readiness of the infrastructure for production environments and laid the groundwork for tackling the challenges of complex payments, especially in cross-currency transactions.
The regulated presence of AMINA in Switzerland, EU, Hong Kong, Abu Dhabi, and the United Kingdom allows leveraging this technology to optimize payments on a global scale. The demonstrated netting capabilities are particularly valuable for multi-currency operations, reducing costs and risks as the network expands.
Simple Integration and Benefits for Customers
From an integration standpoint, Mark Dambacher, CEO of Incore Bank, highlighted the ease with which the solution was incorporated into the bank’s open platform, without impacting the customer experience. This approach provides a solid foundation for developing value-added services for clients.
In the pilot, Crypto Finance acted as the Currency Operator, setting governance standards, onboarding criteria, and transaction rules, while Incore Bank and AMINA integrated the new functionalities into their respective regulated banking environments.
Google Cloud Universal Ledger: The Heart of Transformation
The Google Cloud Universal Ledger technology has enabled secure and fully automated domestic transfers, operational 24/7, leveraging the reliability of Swiss payment infrastructures and the flexibility of a shared ledger. James Tromans, Managing Director of Web3 and Digital Assets at Google Cloud, expressed pride in the support provided to the advancement of the Swiss payment infrastructure, emphasizing how the pilot demonstrates the ledger’s ability to enhance financial services while complying with regulatory requirements.
Complementary, Not Substitute
A key aspect that emerged from the pilot is that shared ledger technology can complement existing payment infrastructures rather than replace them. This pragmatic approach provides a solid foundation for creating more connected and interoperable payment ecosystems.
Looking to the future, the partners intend to explore further use cases, including cross-currency settlement, currency exchange workflows, and digital asset transfers. In these areas, the demonstrated netting capabilities could bring significant operational benefits on an institutional scale.
The Pioneers of Experimentation
Crypto Finance Group
Part of the Deutsche Börse group, Crypto Finance offers regulated digital solutions for institutional clients. With offices in Switzerland and Germany, the company covers the entire digital asset supply chain, from custody to trading, and stands out for its ability to facilitate the adoption of blockchain services by banks, managing technical and operational complexities. Crypto Finance is among the first companies in Europe to have obtained the MiCA license.
AMINA Bank
Founded in 2018 in Zug, AMINA Bank is a pioneer in the crypto banking sector. It has obtained regulatory licenses in Switzerland, Abu Dhabi, Hong Kong, and Austria, establishing itself as a leader in digital asset innovation. Recognized by CVVC Global Report and CB Insights among the top 50 blockchain companies, AMINA has won numerous awards for innovation in the digital asset sector.
Incore Bank
Incore Bank, based in Schlieren, Switzerland, is a B2B bank specializing in transactions for traditional and digital assets, regulated by FINMA. It offers modular and innovative solutions, positioning itself as a leading technology partner for banks and intermediaries in Switzerland and abroad.
Towards a New Era of Banking Payments
The success of this experimentation represents a fundamental step towards the realization of an instant, secure, and regulatory-compliant payment infrastructure. The integration of technologies such as the Google Cloud Universal Ledger paves the way for greater efficiency, cost reduction, and new opportunities for financial institutions, without compromising the trust and security that characterize the regulated banking system.
The evolution of banking payments has just begun, but the direction is clear: collaboration, innovation, and adherence to regulations will be the pillars on which to build the future of global financial services.