Swiss Banks Drop Blockchain Bombshell: Money Moves Like Never Before!
On Sept. 16, the Swiss Bankers Association (SBA) declared that Postfinance, Sygnum Bank, and UBS had successfully completed a proof of concept (PoC) for a deposit token. This little experiment proved that blockchain could be used for legally binding payments across institutions. The SBA, ever the dramatist, called it a historic moment for Switzerland’s financial system: