BIS Project Agorá shows tokenized payments can settle in seconds

The Bank for International Settlements (BIS) has released findings from Project Agorá, a collaborative initiative involving seven central banks and over 40 private financial institutions. The project utilizes a dual-layer blockchain architecture to achieve atomic settlement of cross-border wholesale payments, which helps reduce credit risk and operational delays. By tokenizing central bank reserves and commercial bank deposits, the system allows for real-time payment finality while preserving the traditional two-tier banking structure. Furthermore, the prototype integrates concurrent AML and fraud screening, aiming to modernize the global payment infrastructure to handle the significant increase in projected international transaction volumes.

(Source：Cointelegraph)