JPMorgan, Citi, UBS test tokenized cross-border payments in BIS pilot
The pilot processed about $1 million in six currencies and settled payments in roughly 80 seconds, the BIS said.
- On Thursday, the Bank for International Settlements announced that Project Agorá successfully tested real-value cross-border payments, with 28 commercial lenders and 5 central banks completing 17 transaction scenarios totaling approximately $1 million.
- Traditional cross-border payments often pass through multiple correspondent banks, creating significant delays and settlement risks; Project Agorá explores whether tokenized technology can modernize the infrastructure behind global financial markets.
- The pilot used a shared ledger to place tokenized money directly on the network, enabling banks to complete transactions in an average of about 80 seconds by tokenizing central bank reserves and commercial bank deposits.
- Citigroup estimates that by 2030, the annual turnover volume of tokenized deposits could exceed $100 trillion, matching projected volumes for stablecoins as growing wholesale usage and regulatory clarity drive sector growth.
- Ensuring faster, safer cross-border payments depends on commercial banks, central banks, and regulators building interoperable systems; tokenized deposits, stablecoins, and wholesale CBDCs will likely coexist in the international financial ecosystem.
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The infrastructure for tokenized bank deposits is beginning to take shape
Tokenized bank deposits remain modest in scale and largely limited to fragmented, bank-specific networks. Yet recent pilots suggest that the infrastructure needed for cross-border use is beginning to emerge. The post The infrastructure for tokenized bank deposits is beginning to take shape appeared first on Atlantic Council.
BIS Project Agorá Settles $1 Million in Tokenized Cross-Border Payment Trials
The BIS said Project Agorá completed $1 million in real-value cross-border payment trials, with 28 financial institutions settling transactions across six currencies in about 80 seconds.
Asset tokenization should become a business opportunity of US$ 16.1 trillion by 2030, the equivalent of about 10% of global GDP, according to a study by the Boston Consulting Group (BCG) in partnership with the digital ADDX exchange. The projection represents a growth of 50 times over the US$ 310 billion recorded in 2022 and is driven, above all, by the tokenization of real assets. Institutions such as BlackRock, JPMorgan and HSBC already lead i…
JPMorgan, Citi, UBS and 25 Global Banks Test Tokenized… – Your Capital Minds
The Bank for International Settlements (BIS) confirmed on 30 July 2026 that Project Agorá completed real-value testing, with JPMorgan, Citi, UBS and 25 other private sector institutions joining five central banks to settle roughly CHF 800,000 in live cross-border payments using tokenized central bank reserves and commercial bank deposits. The live run carries Agorá past the prototype stage the project reached in its 27 May findings report, putti…
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