Central Banking

BIS project aims to redesign global payments infrastructure

“Most ambitious” innovation hub project to date will test BIS’s “unified ledger” concept

The Bank for International Settlements, Basel
Photo: Ulrich Roth

The Bank for International Settlements (BIS) and seven central banks today (April 3) launched a project that aims for a major overhaul of global payments infrastructure.

Project Agorá intends to develop a platform designed to overcome the shortcomings of existing cross-border payments. The concept is built around the BIS’s 2023 proposal for a “unified ledger” that would bring together tokenised forms of central bank and commercial bank money on a single platform.

Senior BIS officials said the

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