Central banks favor legacy instant payment systems over CBDCs
TradFi looks safe on the international payments market for the foreseeable future, despite advances in blockchain solutions. Go to Source
Project Agorá
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BIS distances from Project mBridge amid BRICS sanctions concerns
Economic sanctions have a profound effect on international financial architecture, it turns out. Go to Source
Bank of Korea to Launch CBDC Payment Trial in Supermarkets
South Korea’s central bank, the Bank of Korea, will soon allow participants to use digital tokens for payments at supermarkets and convenience stores in a central bank digital currency (CBDC) trial. Starting in December, 100,000 participants will be part of this test. Retail partnerships and global initiatives like Project Agora highlight the broader impact of … Read more
Global Surge in CBDC Development: 134 Countries Now Exploring Digital Currencies
New data shows that 134 countries, representing 98% of global GDP, are now exploring central bank digital currencies (CBDCs), with 66 nations advancing to pilot or development stages. Every G20 nation is engaged in CBDC efforts, with notable leaders such as China and the European nations pushing forward. The U.S. remains lagging behind Europe and … Read more
World Banking Giants Join Project Agora to Reengineer Cross Border Payments
Over 40 leading private banking institutions have joined Project Agora, a Bank for International Settlements (BIS) initiative to integrate smart contracts to change the current payment flow standard. The objective is to design a system combining public and private money to enhance cross-border settlement processes. Project Agora Gains Support From Private Banking Giants Project Agora, … Read more
41 firms join BIS Project Agora to advance unified ledger applications
The large private companies will work with seven central banks on improving structural inefficiencies in international transfers. Go to Source
BIS Announces Project Agorá: Central Banks Bet on Tokenization for Cross Border Settlements
The Bank for International Settlements, the central banks’ bank, announced the launch of Project Agorá, a joint private-public initiative seeking to examine the potential benefits of tokenization for improving cross-border settlements. Agorá includes the participation of seven central banks and private institutions to be convened by the Institute of International Finance (IIF). BIS to Explore … Read more
