BIS project finds tokenization could make cross-border payments faster, safer
CoinDesk
A BIS project titled Project Agorá suggests that tokenization can enhance the speed and security of cross-border financial settlements.Summary
The Bank for International Settlements (BIS) has released findings from Project Agorá, a collaborative initiative involving seven central banks and over 40 private financial institutions. The study concludes that using tokenized central bank reserves and commercial bank deposits allows for atomic settlement, which ensures transactions complete entirely or not at all. This approach addresses systemic inefficiencies, such as slow settlement times and high reconciliation costs, by reducing reliance on intermediary banks. Moving forward, participants aim to progress from simulations to testing real-value transactions.
(Source：CoinDesk)