Crypto Finance, AMINA Bank, and Incore Bank have completed the second step within the first phase of their payment infrastructure pilot on Google Cloud Universal Ledger (GCUL), advancing from a November 2025 proof-of-concept to processing live client transactions in a production environment.
The pilot involves three Switzerland-based regulated financial institutions and is designed to demonstrate how shared-ledger technology can complement existing payment infrastructure within established regulatory frameworks.
The second step of the pilot demonstrated netting capabilities that consolidate multiple transfers into single bank-to-bank clearing operations, improving settlement efficiency. AML and sanctions screenings are integrated directly into the transaction flow, enabling compliance without disrupting existing regulatory obligations or data privacy standards. The initiative does not introduce new forms of digital money.
Roles, architecture and next steps
During this stage, Crypto Finance acted as Currency Operator, defining governance standards, onboarding criteria, and transaction rules. Incore Bank and AMINA Bank integrated the capabilities into their regulated banking environments. GCUL is a private, permissioned ledger infrastructure provided by Google Cloud, enabling secure, fully automated domestic transfers to operate around the clock.
The pilot's netting capabilities are particularly relevant for cross-currency settlement, where consolidating multiple bilateral transfers into fewer clearing operations can generate material operational and cost benefits as additional institutions join the network. AMINA Bank noted its multi-jurisdictional regulated presence across Switzerland, the EU, Hong Kong, Abu Dhabi, and the UK as relevant context for applying these capabilities to global payment optimisation.
Looking ahead, the partners plan to explore additional use cases, including cross-currency settlement, foreign exchange workflows, and digital asset transfers.
Stijn Vander Straeten, CEO of Crypto Finance Group, said the pilot shows what a more connected financial system looks like in practice, with regulated banks, production-grade processes, and a shared-ledger layer that removes friction.
