BIS Project Agorá settles $1 million in tokenized cross-border payment trials

cointelegraphPublicado a 2026-07-31Actualizado a 2026-07-31

Resumen

The Bank for International Settlements (BIS) has announced the completion of initial real-value trials for Project Agorá, a tokenized cross-border payment system. The trials involved 28 central and commercial banks settling approximately $1 million (800,000 Swiss francs) across 17 different transaction scenarios. The system successfully used tokenized central bank reserves and commercial bank deposits to process payments in six major currencies, with average settlement times of around 80 seconds. Participants included major central banks such as the Bank of England and Bank of Japan, alongside global commercial institutions like JPMorgan Chase and Citi. Launched in 2024, Project Agorá aims to explore how tokenization can improve wholesale cross-border payments, with this phase marking a key milestone. The BIS confirmed testing will continue as the project develops.

The Bank for International Settlements (BIS) said Project Agorá completed real-value testing of tokenized wholesale cross-border payments, with 28 financial institutions and central banks settling about 800,000 Swiss francs (about $1 million) across 17 transaction scenarios.

The BIS said Thursday that the tests used tokenized central bank reserves and commercial bank deposits to settle payments in Swiss francs, euros, pounds sterling, Japanese yen, South Korean won and US dollars, with an average settlement time of about 80 seconds.

Participants included the Bank of England, Bank of France, Bank of Japan, Bank of Korea and the Swiss National Bank, alongside commercial banks including JPMorgan Chase, Citi, Deutsche Bank, BNP Paribas, UBS, Standard Chartered and MUFG.

Project Agorá is a BIS initiative launched in 2024 to explore how tokenized commercial bank deposits and central bank reserves can improve cross-border wholesale payments. In May, the project reported that its prototype demonstrated atomic settlement across multiple currencies and jurisdictions.

The BIS said the July trials marked an important milestone and that testing will continue as Project Agorá progresses.

Related: Former BIS chief softens stance on stablecoins, backs coexistence with fiat

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Preguntas relacionadas

QWhat is the main achievement announced by the BIS regarding Project Agorá?

AProject Agorá successfully completed real-value testing of tokenized wholesale cross-border payments, settling about 800,000 Swiss francs (approximately $1 million) across 17 different transaction scenarios.

QWhich currencies were used in the settlement trials conducted by Project Agorá?

AThe trials settled payments using Swiss francs, euros, pounds sterling, Japanese yen, South Korean won, and US dollars.

QWhat was the average settlement time for the tokenized payments in the BIS trials?

AThe average settlement time for the tokenized payments was about 80 seconds.

QName some of the participating central banks and commercial banks in the Project Agorá trials.

ACentral banks included the Bank of England, Bank of France, Bank of Japan, Bank of Korea, and the Swiss National Bank. Commercial banks included JPMorgan Chase, Citi, Deutsche Bank, BNP Paribas, UBS, Standard Chartered, and MUFG.

QWhat is the primary goal of Project Agorá, launched by the BIS in 2024?

AProject Agorá aims to explore how tokenized commercial bank deposits and central bank reserves can improve cross-border wholesale payments.

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