UBS, PostFinance, and Sygnum have successfully completed a pilot project using Ethereum blockchain for interbank payments, employing 'Deposit Tokens' to settle transactions without traditional payment systems. This test, led by the Swiss Bankers Association, demonstrated the technical and legal feasibility of compliant cross-bank transactions on a public blockchain, covering scenarios of peer-to-peer payments and token asset exchanges. The association emphasized that while this project is part of their digital currency strategy, it does not indicate immediate formal adoption of deposit tokens.