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

Project Agorá settles ~$1M across 17 scenarios in 80s avg time using tokenized reserves, involving 28 institutions and six currencies.

Woofun AI reports that the Bank for International Settlements confirmed Project Agorá has finalized a real-value test of tokenized wholesale cross-border payments. The exercise involved 28 financial institutions and central banks settling approximately 800,000 Swiss francs, equivalent to around $1 million, across 17 distinct transaction scenarios.

The test utilized tokenized central bank reserves and commercial bank deposits, with settlement currencies including the Swiss franc, euro, pound sterling, Japanese yen, Korean won, and US dollar. Average settlement time was approximately 80 seconds. Participants included the Bank of England, Banque de France, Bank of Japan, Bank of Korea, and Swiss National Bank, alongside commercial banks such as JPMorgan, Citi, Deutsche Bank, BNP Paribas, UBS, Standard Chartered, and Mitsubishi UFJ Financial Group.