BIS Project Agorá Completes $1M Cross-Border Tokenized Payment Test

BIS-led Project Agorá finalized a real-world cross-border payment trial using tokenized reserves. 33 institutions settled $1M across six currencies in ~80s, validating shared ledger efficiency and reduced counterparty risk.

Woofun AI reports that the Bank for International Settlements' Project Agorá has concluded a live cross-border payment experiment involving five central banks and 28 commercial entities, including JPMorgan Chase and Citigroup. The trial processed approximately $1 million in transactions across six currencies—USD, EUR, GBP, JPY, CHF, and KRW—utilizing tokenized central bank reserves and commercial deposits on a shared ledger. Settlements averaged 80 seconds, demonstrating synchronized foreign exchange capabilities designed to mitigate counterparty risk.