The Bank for International Settlements (BIS) has officially concluded the first phase of Project Agorá, a major international effort exploring how blockchain technology and tokenized money could improve global payments
According to the findings, tokenized central bank reserves and commercial bank deposits could make cross-border payments faster, safer, and more efficient by reducing delays and lowering settlement risks between banks in different countries.
Project Agorá includes participation from major financial institutions and central banks such as the Federal Reserve Bank of New York, the Bank of England, the Bank of Japan, the Swiss National Bank, and others. The initiative focuses on using blockchain-based systems to modernize how money moves globally.
The project successfully demonstrated “atomic settlement,” a system where payments are completed instantly and simultaneously, reducing the risk of failed transactions during international transfers.
Following the successful testing phase, participating institutions are now preparing for real-value testing on blockchain rails, moving beyond simulations into practical financial transactions.
Financial experts say the development could reshape the future of international banking by enabling faster 24/7 payments while maintaining the security of central bank-backed money systems.
