In Switzerland, UBS, Sygnum Bank, and PostFinance successfully tested institutional payments on Ethereum using deposit tokens, digital versions of bank deposits that move on-chain. Conducted under the Swiss Bankers Association, the proof of concept confirmed that banks can legally settle payments without relying on traditional systems. The trial covered two use cases: peer-to-peer payments between bank customers and an escrow-like setup where deposit tokens were swapped for tokenized assets.

While Switzerland already has an efficient payments network, banks said deposit tokens open the door to programmable finance, such as instant securities settlement or automated insurance payouts. However, scaling will require more banks, infrastructure providers, and regulators. The Swiss Bankers Association noted the pilot is part of its digital currency strategy, though full rollout isn’t imminent.

Meanwhile in the U.S., SharpLink Gaming, a Minneapolis-based Ethereum treasury firm, continued an aggressive share buyback program. The company repurchased 1 million SBET shares at an average of $16.67, bringing total buybacks in the last two weeks to 1.93 million shares worth nearly $32 million. At the same time, SharpLink modestly increased its crypto holdings, adding 922 ETH (about $4.1 million) since August 31.

Co-CEO Joseph Chalom said the firm is focused on maximizing shareholder value while deepening alignment with Ethereum. SharpLink’s market cap currently sits below the value of its ETH holdings, a situation Chalom previously flagged as justification for buybacks. Still, shares were down 2.6% Tuesday at $16.33, extending a 19% monthly decline, while ETH itself slipped just 2.2% over the same period.