Switzerland makes history: banks complete first blockchain-based payment

Banking revolution in Switzerland! UBS, PostFinance and Sygnum Bank made history with the FIRST legally binding interbank payment on blockchain.

The test, coordinated by the Swiss Bankers Association, used “deposit tokens” – bank deposits converted into digital assets.

Two scenarios were tested: a direct payment between clients and a token swap for real-world assets, all managed by smart contracts. The result? An automated, secure, and officially recognized transaction.

It is the first time Swiss banks completed a binding payment on a public blockchain. This could fundamentally change how money moves internationally.

Switzerland, already a global hub for fintech and crypto, raises the bar. Blockchain is no longer just for startups or cryptocurrencies – it is now entering the heart of traditional banking.

UBS, PostFinance and Sygnum show that the future of bank payments could be digital, fast, and free from unnecessary intermediaries.