Bank for International Settlements: More than 40 financial companies will explore the application of tokenization in wholesale cross-border payments through Project Agorá

BlockBeats news, on September 17, the Bank for International Settlements (BIS) said that more than 40 financial companies will explore the application of tokenization in wholesale cross-border payments through the Bank for International Settlements (BIS) Project Agorá.

These financial companies were selected by BIS after a public call for participants in May. The project has now entered the design phase.

BIS stated on its website that the project is based on its concept of a unified ledger and "will study how to seamlessly integrate tokenized commercial bank deposits with tokenized wholesale central bank currencies into a programmable core financial platform." (CoinDesk)