The Bank for International Settlements published results on May 27 from Project Agorá. The initiative brought together eight central banks and more than 40 private financial institutions to build a prototype for tokenized wholesale cross-border payments. The prototype demonstrated that tokenized commercial bank deposits can be combined with tokenized central bank reserves on a shared platform to enable atomic multi-currency settlement.
Participating central banks include the Federal Reserve Bank of New York, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank. The consortium plans to advance from synthetic simulations to real-value testing involving actual currencies and participants.