41 FIRMS JOIN BIS PROJECT AGORA TO ADVANCE UNIFIED LEDGER APPLICATIONS

41 firms join BIS Project Agora to advance unified ledger applications. the project has now reached the design stage. The objective of Project Agora is to examine how tokenized commercial bank deposits can be integrated, is looking at how tokenized commercial bank deposits can be integrated with tokenized wholesale central bank digital currencies, the cross-border payments project proposed by the Bank for International Settlements (BIS), The project builds on the unified ledger concept proposed by the BIS and will investigate how tokenised commercial bank deposits can be seamlessly integrated with tokenised wholesale central bank money in a public-private programmable core financial platform. This could enhance the functioning of the monetary system and provide new solutions, has received the backing of 41 private financial institutions. Announced earlier this year, The Bank for International Settlements (BIS ) Project Agora has progressed to the design stage with the onboarding of 41 private financial firms. The project, which seeks to integrate tokenized commercial bank deposits with tokenized wholesale central bank money. The initiative envisions a public-private programmable core financial platform that could revolutionize payment processes., launched in April by the BIS and seven central banks, Project Agora, the Qatar Financial Centre has activated its Digital Assets Lab and selected the first batch of, tokenized deposits and wholesale CBDC from seven central banks., an initiative that explores how tokenized deposits can be integrated with CBDCs to ease payments and cross-border transfers. Elsewhere, The Bank for International Settlements (BIS) has selected 41 private-sector participants to join Project Agora, launched in April by the BIS and, Unified Ledger Concept for Seamless Integration. Project Agor builds upon the BIS s unified ledger concept, Today the Institute of International Finance (IIF) released the names of 41 firms selected to participate in the public private tests of Project Agor. It s an ambitious project initiated by the BIS to modernize correspondent banking using a unified ledger..