CoinWorld News reports that large banks are abandoning private blockchains and shifting to building token cash networks on public infrastructure to meet the growing demand from institutions for multi-asset flexibility. Thomas Eichenberger, Chief Strategy Officer of Swiss digital asset bank Sygnum, stated that institutional clients have consistent needs; they are no longer waiting for a single tool to emerge but are demanding the combination of tokenized deposits, regulated stablecoins, and tokenized money market funds to achieve interoperability. Sygnum is collaborating with Swiss banking giants UBS and PostFinance to test blockchain payments on Ethereum. Additionally, Qivalis is also competing to issue stablecoins, planning to launch a digital euro by the end of this year.