Crypto Finance, AMINA Bank, and Incore Bank have announced the completion of the second step within the first phase of their pilot payment infrastructure initiative on Google Cloud Universal Ledger (GCUL).
Crypto Finance acted as currency operator, with Incore Bank and AMINA integrating the new capabilities into their regulated banking environments.
The progression follows the companies’ November 2025 proof-of-concept to interbank production validation.
The joint initiative illustrated the consolidation capabilities of multiple transfers into a single bank-to-bank clearing operation and the ability of participants to process live client transactions in a production environment.
According to the banks, completion of the second step establishes operational readiness and demonstrates how institutions joining the network can increase settlement efficiency.
The pilot intends to demonstrate the modernisation of payment operations without disrupting established regulatory frameworks or introducing new forms of digital money.
Anti-money laundering and sanctions screening are directly integrated into the transaction flow.
Speaking on the initiative, Franz Bergmueller, CEO of AMINA, says: “The netting capabilities we've shown could be particularly valuable in cross-currency transactions, where our multi-jurisdictional regulated presence across Switzerland, the EU, Hong Kong, Abu Dhabi, and the UK positions us to leverage this technology for global payment optimisation.”
CEO of Crypto Finance Group, Stijn Vander Straeten, adds: “We’re moving toward a more connected financial system in which money and assets can settle in real time without compromising trust.”
Mark Dambacher, CEO of Incore Bank, believes that the “key achievement from an integration perspective was how seamlessly the solution could be embedded into our open platform, which we operate for multiple banks”.
James Tromans, managing director, Web3 and digital assets, Google Cloud, comments: “This pilot showcases how Google Cloud Universal Ledger can enhance financial services while operating within established regulatory requirements.”
The banks plan to explore further use cases, including cross-currency settlement, FX workflows, and digital asset transfers.
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