Swiss, European Central Banks Target 2026 for Instant Payment System Link

The Swiss National Bank and European Central Bank are exploring a potential link between Switzerland's Interbank Clearing System and the Eurosystem's TARGET Instant Payment Settlement (TIPS) service by 2026. This cross-currency integration WOULD enable near-instant transfers between Swiss franc and euro accounts, a significant upgrade from current multi-day settlement processes.

Technical evaluations will assess interoperability between the two systems, which currently operate as domestic rails for their respective currencies. "This initiative supports the general goal of making cross-border payments faster, cheaper, more transparent and more accessible," stated the SNB, though implementation timelines remain undefined beyond the 2026 exploration phase.

The proposed linkage reflects growing demand for seamless international settlements, particularly between Switzerland and the Eurozone. Successful implementation could set precedent for similar integrations with other currency zones, potentially influencing digital asset adoption corridors.