🇨🇭 Switzerland Executes First Legally Binding Interbank Payment on Blockchain

Swiss banking just went on-chain. PostFinance, Sygnum Bank, and UBS pulled off the country’s first legally binding interbank payment using tokenized deposits on a public blockchain — a move the Swiss Bankers Association (SBA) is calling a historic milestone.

⚡ Quick Hits

• 🏦 Banks involved: PostFinance, Sygnum Bank, UBS
• 📅 Date: September 16, 2025
• 🔗 First legally binding interbank transfer on a public blockchain
• 📜 Legal status: Fully compliant under Swiss law
• ⚙️ Features: Tokenized deposits, programmable settlements, escrow-like functionality
• 🛠 Use cases tested: Securities trading, insurance claims, direct bank-to-bank payments

🏛️ A Historic PoC for Tokenized Deposits

The proof-of-concept (PoC) wasn’t just a sandbox experiment — it demonstrated how tokenized bank deposits can settle payments between Swiss banks in real time with legal recognition.

Test scenarios included:

• ✅ Direct interbank payments between clients
• ✅ Escrow-style exchanges of tokenized assets via smart contracts
• ✅ Automated settlements for securities and insurance claims

The verdict: Tokenized deposits can operate securely, comply with Swiss law, and enable programmable finance.

“The deposit token offers huge potential to improve efficiency and security in future payment transactions,” said Alexander Thoma, Head of Digital Assets at PostFinance.

🤝 Why This Matters

Unlike stablecoins or CBDCs, deposit tokens are bank-issued, regulated digital money. By running them on public blockchains, Switzerland is proving that:

• Interbank settlements can be faster, cheaper, and programmable
• Compliance and decentralization aren’t mutually exclusive
• Banks can use smart contracts to automate complex financial processes

Christoph Pour, Head of Digital Assets at UBS, put it bluntly:

“This PoC shows that bank money interacting via public blockchains can become a reality, unlocking innovation around tokenized assets and actively shaping the future of financial systems—both nationally and globally.”

🌍 Bigger Picture: Switzerland as Blockchain’s Banker

The SBA has been pushing hard for digital currencies and tokenized finance. This pilot proves Switzerland’s playbook:

• Combine bank-grade compliance with public blockchain innovation
• Position the Swiss market as a global hub for tokenized assets
• Use programmable money as the backbone for securities, insurance, and trade finance

If expanded, deposit tokens could rival stablecoins and even central bank digital currencies (CBDCs) as the default settlement layer in Europe.

⚡ TL;DR

Switzerland just executed its first legally binding interbank payment on a blockchain, with PostFinance, UBS, and Sygnum leading the charge. Tokenized deposits proved secure, compliant, and programmable — paving the way for smart contract-driven settlements in banking, insurance, and capital markets.

This isn’t theory anymore. Swiss finance is officially on-chain.