BIS Project Discovers Potential to Improve Speed and Security of Cross-Border Payments Through Tokenization

Project Agorá, supported by major central banks, is now set to advance to a real-value testing phase for settling tokenized central bank money and bank deposits on a blockchain, CoinDesk reported. Project Agorá, led by the Bank for International Settlements (BIS), has found that tokenizing central bank reserves and commercial bank deposits can significantly enhance the speed and reliability of cross-border payments.