Bank for International Settlements: Over 40 financial companies will explore the application of tokenization in wholesale cross-border payments through Project Agorá

ChainCatcher news, according to CoinDesk, the Bank for International Settlements (BIS) stated that over 40 financial companies will explore the application of tokenization in wholesale cross-border payments through the BIS's Project Agorá.

These financial companies were selected by the BIS after a public call for participants in May. The project has now entered the design phase.

The BIS stated on its website that the project is based on its unified ledger concept, "which will study how to seamlessly integrate tokenized commercial bank deposits with tokenized wholesale central bank currency into a programmable core financial platform."