TechFlame reports that under the Swiss Banking Association, Switzerland's top three banks — UBS, PostFinance and Sygnum — have completed a tokenized deposit test based on the Ethereum public chain. In this proof of concept (PoC), tokens trigger traditional off-chain payments, and future plans are to explore native digital deposit tokens. The trial aims to break through the limitations of existing payment infrastructure to enable programmable payments and transfers of large sums of money around the clock. The test covered interbank payments and escrow settlement of tokenized asset transactions. The results showed that both are technically and legally feasible, and tokens can be viewed as a digital representation of payment instructions.