BIS Project Agorá Completes $1 Million Tokenized Cross-Border Payment Test

ME News reports that on July 31 (UTC+8), the Bank for International Settlements (BIS) announced that Project Agorá has successfully completed a real-value test of tokenized wholesale cross-border payments. Twenty-eight financial institutions and central banks settled approximately 800,000 Swiss francs—equivalent to about $1 million—across 17 transaction scenarios. The test utilized tokenized central bank reserves and commercial bank deposits, with settlement currencies including the Swiss franc, euro, British pound, Japanese yen, Korean won, and U.S. dollar, achieving an average settlement time of around 80 seconds. Participants included the Bank of England, Banque de France, Bank of Japan, Bank of Korea, and the Swiss National Bank, alongside commercial banks such as JPMorgan Chase, Citibank, Deutsche Bank, BNP Paribas, UBS, Standard Chartered, and Mitsubishi UFJ Financial Group. Project Agorá, launched by the BIS in 2024, aims to explore how tokenized commercial bank deposits and central bank reserves can enhance wholesale cross-border payments. The BIS stated that the July test represents a significant milestone, and testing will continue as Project Agorá progresses. (Source: ODAILY)