BIS Project Agorá Settles $1 Million in Tokenized Cross-Border Payment Trials

The BIS said Project Agorá completed $1 million in real-value cross-border payment trials, with 28 financial institutions settling transactions across six currencies in about 80 seconds.

BIS Project Agorá Settles $1 Million in Tokenized Cross-Border Payment Trials

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Written by

Yohan Yun

staff editor

Reviewed by

Bryan O'Shea

staff editor

Written by

Yohan Yun

staff editor

Reviewed by

Bryan O'Shea

staff editor

BIS Project Agorá settles $1 million in tokenized cross-border payment trials

Latest News

Published

Jul 31, 2026

Twenty-eight financial institutions and central banks completed real-value settlements across six currencies using tokenized central bank reserves and commercial bank deposits.

The Bank for International Settlements (BIS) said Project Agorá completed real-value testing of tokenized wholesale cross-border payments, with 28 financial institutions and central banks settling 800,000 Swiss francs ($1 million) across 17 transaction scenarios.

The BIS

said

Thursday that the tests used tokenized central bank reserves and commercial bank deposits to settle payments in Swiss francs, euros, pounds sterling, Japanese yen, South Korean won and US dollars, with an average settlement time of about 80 seconds.

Participants

included

the Bank of England, Bank of France, Bank of Japan, Bank of Korea and the Swiss National Bank, alongside commercial banks including JPMorgan Chase, Citi, Deutsche Bank, BNP Paribas, UBS, Standard Chartered and MUFG.

Project Agorá is a BIS initiative launched in 2024 to explore how tokenized commercial bank deposits and central bank reserves can improve cross-border wholesale payments. In May, the project

reported

that its prototype demonstrated atomic settlement across multiple currencies and jurisdictions.

The BIS said the July trials marked an important milestone and that testing will continue as Project Agorá progresses.

Related:

Former BIS chief softens stance on stablecoins, backs coexistence with fiat

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JPMorgan Chase

Citi

Bank of Japan

Bank of England

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