CoinDesk
The Bank for International Settlements' Project Agorá — a joint initiative with seven central banks and more than 40 private financial institutions — has concluded that tokenizing central bank reserves and commercial bank deposits could fundamentally improve cross-border payments. The project found that atomic settlement across currencies and jurisdictions is achievable on blockchain rails, eliminating the risk that one leg of a payment completes while the other fails.
Participants include the Federal Reserve Bank of New York, Bank of England, Bank of Japan, and the Swiss National Bank, alongside major commercial banks. The group is now moving beyond simulations toward real-value transaction testing — a significant escalation in commitment. The Bank of Canada joined the initiative this week, broadening the coalition further.
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