Bank of Korea Completes BIS Agora Tokenized Payment Test Across 6 Currencies

BoK joins 28 institutions in BIS-led Agora test, executing 17 scenarios with tokenized reserves across six major currencies, signaling progress in cross-border CBDC infrastructure.

Woofun AI reports that the Bank of Korea successfully concluded real transaction testing within the Bank for International Settlements-led "Agora Project," utilizing tokenized reserve funds. The trial involved 28 participants, including central banks and private financial entities such as KB Kookmin Bank and Shinhan Bank, processing transactions worth approximately 800,000 Swiss francs across 17 scenarios involving the Korean won, US dollar, euro, British pound, Swiss franc, and Japanese yen.

The Bank of Korea indicated that the Agora Project intends to expand future testing by identifying transaction types and scenarios not covered in this initial phase.