(27 May) Bank for International Settlements – BIS:


Project Agorá: Shared programmable platform for wholesale cross-border payments
Project Agorá:
🔱 BIS/IIF initiative involving 7 central banks and 40+ financial institutions
🔱 Combines tokenised commercial bank deposits with central bank reserves on one shared platform
🔱 Enables atomic multi-currency cross-border settlement, potentially operating 24/7
🔱 Smart contracts automate compliance and payment logic, reducing friction and delays
🔱 Supports conditional and always-on wholesale payments
📒 Key Findings:
🔱 Tokenisation can improve efficiency and security in wholesale cross-border payments
🔱 Atomic settlement allows transactions to complete on an “all-or-nothing” basis across jurisdictions
🔱 Central banks maintain autonomy while operating within an interoperable shared system
🔱 Privacy protections can safeguard transaction and balance data while maintaining compliance
🔱 Tokenisation does not change the legal nature of central bank reserves or bank deposits
🔱 Settlement finality appears achievable across all participating jurisdictions
🔱 Modular architecture enables future upgrades in AML, sanctions compliance, and fraud detection
🔱 Central banks and private institutions continue expanding participation and development of the prototype
Full article:
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