Bank for International Settlements: Over 40 Financial Firms Will Explore Tokenization for Wholesale Cross-Border Payments Through Project Agorá
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September 17, 2024
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According to CoinDesk, the Bank for International Settlements (BIS) has stated that over 40 financial institutions will explore the application of tokenization in wholesale cross-border payments through its Project Agorá.
These financial firms were selected following an open call for participants in May. The project is now in its design phase.
On its website, BIS said the project builds on its concept of a unified ledger "to explore how tokenized commercial bank deposits can be seamlessly integrated with tokenized wholesale central bank money into a programmable core finance platform."
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