Project Agorá settles real money, six currencies in eighty seconds
The BIS says twenty-eight institutions and central banks moved around CHF800,000 of live tokenized deposits across borders, the first time the project has put real value at stake.
Standards body
Institute of International Finance
The global association of the financial industry, founded in 1983 after the sovereign debt crises of that decade, and the private sector convenor of the BIS Project Agora work on tokenized cross-border payments.
The profile
An association of banks, insurers, asset managers and other financial firms, founded in 1983 in the aftermath of the Latin American debt crises to improve private sector analysis of sovereign risk. Its present work spans capital and liquidity standards, sustainable finance and digital finance, and it is the body through which the private sector side of Project Agora is convened alongside the Bank for International Settlements. Its role on this beat is as a coordinator rather than a rule-maker: it has no supervisory power, and its influence runs through the standard-setting bodies its members answer to.
Coverage
Developments in which Institute of International Finance is a named party, newest first.
On the record
Project Agora settles live tokenized transactions in six currencies
The Bank for International Settlements published real-value testing results for Project Agora on 29 July 2026. Twenty-eight private sector institutions and central banks completed transactions across seventeen scenarios worth about CHF800,000 in total, settling in roughly eighty seconds on average on a platform where tokenized commercial bank deposits move alongside tokenized central bank reserves.