Large banks are looking to provide stablecoins and tokenised financial products as a single integrated package to meet institutional investors' multi-asset demand.

A recent report by CoinDesk said large asset managers and corporate treasury departments are calling for multi-asset systems that run stablecoins, tokenised bank deposits and tokenised money market funds (MMFs) on the same infrastructure.

Sygnum, a Swiss digital asset bank, said its chief strategy officer Thomas Eichenberger (토마스 아이헨베르거) said, "Institutional clients do not want a single product to become the standard." He said they are asking how to deliver permissioned payments, 24/7 cross-border transfers and yield products with immediate liquidity under a single trusted regulatory framework.

He added, "Institutions still prefer private chains for data privacy and counterparty control," but said in practice there is a trend toward regulated access-controlled public infrastructure, a public-permissioned model.

Sygnum tested Ethereum-based interbank blockchain payments with UBS and PostFinance last year. This year, it jointly launched a test programme for a Swiss franc (CHF)-based stablecoin with UBS, PostFinance, Raiffeisen, Zürcher Kantonalbank, BCV and Swiss Stablecoin.