Circle responds to the BIS blockchain project Agorá collaborates with seven central banks to streamline crossborder payment processes

Project Agorá recently issued a public call for the participation of private enterprises, hoping to overcome today’s payment challenges, especially in cross-border payments, through the joint efforts of public-private partnership. Cross-border payments will also face challenges in different legal, regulatory, and technical requirements, operational hours, and time zone differences. Additionally, the complexity of implementing financial integrity controls (such as anti-money laundering and customer verification) is increased, as in existing financial structures, the same transaction usually goes through multiple intermediaries. Project Agorá aims to improve these situations through a “public-private programmable core financial platform.”