Crypto Finance, AMINA and Incore Bank have completed the second stage of their payment‑infrastructure pilot on Google Cloud’s Universal Ledger.
The development moves the initiative from proof‑of‑concept to production‑grade validation and marking a further step toward real‑time, regulated interbank settlement.
The three Swiss‑regulated intermediaries processed live client transactions using Google Cloud’s private, permissioned ledger, demonstrating how multiple transfers can be consolidated into single clearing operations. According to the partners, this structure allows settlement efficiency to scale as more institutions join the network, while operating fully within existing anti‑money laundering and sanctions‑screening frameworks.
Stijn Vander Straeten, CEO of Crypto Finance Group, said the pilot shows how a shared‑ledger layer can remove friction without altering the regulatory perimeter.
“We’re moving toward a more connected financial system in which money and assets can settle in real time without compromising trust,” he said. “This pilot shows what that looks like in practice: regulated banks, production-grade processes, and a shared-ledger layer that removes friction.”
The second phase builds on the November 2025 proof‑of‑concept, extending the model into a production environment.
AMINA CEO Franz Bergmueller said the work validates the readiness of the technology for real‑world deployment. “We’ve demonstrated real operational capabilities and established a foundation for addressing complex payment challenges,” he said, adding that the netting capabilities “could be particularly valuable in cross-currency transactions”.
Incore Bank CEO Mark Dambacher highlighted the ease of integration into its multi‑bank platform.
“The key achievement from an integration perspective was how seamlessly the solution could be embedded into our open platform,” he said. “This enables transactions without impacting the customer experience and provides a strong foundation for building additional value-adding services.”
During this stage, Crypto Finance acted as Currency Operator, defining governance standards and transaction rules, while AMINA and Incore Bank embedded the functionality into their regulated environments.
Google Cloud’s James Tromans said the pilot “showcases how Google Cloud Universal Ledger can enhance financial services while operating within established regulatory requirements”.
The partners said the initiative demonstrates how shared‑ledger infrastructure can complement, rather than replace, existing payment rails. Future areas of exploration include cross‑currency settlement, FX workflows and digital‑asset transfers, where the netting model could deliver broader institutional benefits.
