The Bank for International Settlements (BIS) says its “Project Agorá,” developed with central banks and other financial institutions, has reached a new milestone. Multiple outlets report that the initiative produces a prototype aimed at improving cross-border wholesale payments by using tokenization and atomic settlement. The BIS and partners describe the prototype as combining tokenized commercial bank deposits with tokenized central bank reserves on a shared platform. This design is intended to use central bank “trust and safety” for settlement while enabling deposits from commercial banks to be moved across jurisdictions. CoinTelegraph and PYMNTS also report that the prototype demonstrates settlement in seconds, reflecting the intended speed gains from the approach. CoinDesk adds that Project Agorá will move next toward “real-value” testing, shifting from prototype work to trials that use real settlement value. The project is described as involving multiple central banks—seven are cited by CoinTelegraph—and more than 40 institutions overall. The announcements emphasize technical progress and further testing rather than deployment or operational rollout.
BIS Project Agorá demonstrates tokenized settlement for faster cross-border payments
The Bank for International Settlements (BIS) says its “Project Agorá,” developed with central banks and other financial institutions, has reached a new milestone. Multiple outlets report that the init...
- BIS’s Project Agorá demonstrates a prototype for tokenized cross-border wholesale payments.
- The prototype combines tokenized commercial bank deposits with tokenized central bank reserves on a shared platform.
- The project uses atomic settlement across jurisdictions, aiming to improve speed and reliability.
- Partners report the prototype can settle payments in seconds.
- BIS says the initiative will move toward “real-value” testing after the prototype milestone.
Project Agorá found tokenization could improve wholesale cross-border payments through atomic settlement across multiple jurisdictions.
2 months agoThe Bank for International Settlements' collaboration with seven central banks and more than 40 institutions concludes a two-year project with a prototype settling wholesale payments in seconds.
2 months agoThe Bank for International Settlements (BIS) and its partners have marked a new milestone in their “Project Agorá.” BIS announced Thursday (May 27) that the project had delivered a prototype that demonstrated tokenized commercial bank deposits could be combined with “the trust and safety” of tokenized central bank reserves using a shared platform. The prototype allows for atomic, […] The post BIS Marks Successful Test of Cross-Border Blockchain Payments Project appeared first on PYMNTS.com.
2 months agoProject Agorá, backed by major central banks, will now move toward "real-value" testing to settle tokenized central bank money and bank deposits on blockchain rails.
2 months ago
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