PANews, November 27th news, according to Cryptopolitan, Swiss compliant encryption bank Amina Bank and Deutsche Börse's Crypto Finance Group completed a pilot for real-time fiat settlement among Swiss banks on Google Cloud's Universal Ledger, achieving round-the-clock instant settlement while maintaining full-process compliance. The pilot verified the modernization potential of scenarios such as cross-border payments, multi-currency settlements, and POS systems through Distributed Ledger Technology (DLT), with all participating banks maintaining traditional compliance standards within the existing regulatory framework. The CEO of Amina Bank pointed out that this pilot demonstrates that technological innovation and financial stability can coexist, providing a practical model for the transformation of the global financial system.
As the pilot currency operator, Crypto Finance Group is responsible for formulating trading rules and supervising Compliance processes. Google Cloud executives stated that the infrastructure can be embedded into banks' core systems to provide customers with near real-time payment services. The next step of the pilot will expand into consumer POS integration and cross-border payment areas.
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