BIS-led Project Agorá to test tokenized cross-border payments

Project Agorá, a tokenization initiative led by the Bank for International Settlements (BIS), has found that using tokenized central bank money and commercial bank deposits can significantly improve the speed and reliability of cross-border payments, CoinDesk reported. Backed by major central banks, the project is now set to advance to a real-value testing phase to settle these tokenized assets on a blockchain.