BIS Project Finds Tokenized Money Can Speed Cross-Border Payments
The Bank for International Settlements reported that tokenized central bank money and bank deposits can make global payments faster and safer. Its Project Agorá will now advance to real-value testing on blockchain rails.
CoinDeskThe Bank for International Settlements said tokenized central bank money and bank deposits can make global payments faster and safer. The finding comes from Project Agorá, a program backed by several major central banks.
Agorá will now move to real-value testing to settle tokenized central bank money and bank deposits on blockchain rails. The tests aim to measure whether the technology reduces settlement time and operational risk compared with current systems.
No timeline for completing the tests was released.
The BIS did not name participating banks or disclose transaction volumes in the initial findings.
Key Facts
Potential Impact
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Central banks may adopt blockchain settlement for cross-border transfers.
Transparency Panel
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