Deployments · platform by Swiss Bankers Association
Swiss Bankers Association Deposit Token proof of conceptNew
A Swiss Bankers Association proof of concept with PostFinance, Sygnum and UBS in which deposit tokens on one shared, permissioned smart contract on Ethereum triggered ordinary account debits and credits between banks, with final settlement through the Swiss Interbank Clearing system. Selected clients of the banks made a payment between customers of different banks and an escrow-like exchange of tokenised assets. Legally the token was a standardised payment instruction, not new money. The September 2025 results report recommends that later phases test native deposit tokens recorded on-chain; no later phase had been announced by October 2026.
Proof of concept since 16 Sep 2025[2] — Called a proof of concept by the banks, though its transactions were legally binding and settled in SIC for selected clients; no production service followed. · Reviewed 24d ago
- Assets
- Bank deposit[2]Deposit Token: an on-chain payment instruction minted and burned against off-chain mirror accounts
- Networks
- Jurisdictions
- Switzerland
Participants
- Swiss Bankers AssociationPlatform provider, Operator[1]Switzerland
- PostFinanceIssuer[1]Switzerland
- SygnumIssuer, Platform provider[1][2]Switzerland
- UBSIssuer[1]Switzerland
- Swiss National BankCash leg provider[2]Switzerland
- SIXCash leg provider[2]Switzerland
- Selected clients from a dedicated user group of the participating banks.[2]
Likely relevant regulation
Timeline
- Happened 16 Sep 2025 · Production milestone · recorded 15 Oct 2026The SBA publishes the results report of the Deposit Token proof of concept, calling it the first legally binding cross-bank payment with deposit tokens on a public blockchain in Switzerland.[1]
Sources
- [1]Swiss banks reach milestone: Deposit token makes blockchain-based payments fit for the future — Swiss Bankers Association, 16 Sep 2025. Accessed 15 Oct 2026.B
- [2]Deposit Token Proof of Concept – Results Report — Swiss Bankers Association, Sep 2025. Accessed 15 Oct 2026.B
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