7 central banks, led by the Federal Reserve Bank of New York, partner with BIS and financial firms to test tokenization for enhancing cross-border payment speed and integrity via Project Agora.
7 central banks, including the Federal Reserve Bank of New York, partner with the Bank for International Settlements (BIS) and a large group of financial firms to test tokenization as a method to enhance cross-border payment speed and integrity. Project Agora aims to integrate tokenized commercial bank deposits with tokenized wholesale central bank money on a unified, programmable platform, leveraging smart contracts and programmability to overcome legal, regulatory, technical, and time zone differences. The collaboration hopes to create a more interconnected and efficient global financial ecosystem.
April 03, 2024
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