Circle responds to the International Bank Settlement Blockchain Project Agorá collaborates with seven central banks to streamline crossborder payment processes

Project Agorá recently launched a public call for the participation of private sector entities, hoping to overcome today’s payment challenges, especially in cross-border payments, through the collective efforts of public-private partnerships. Cross-border payments will also face challenges such as different legal, regulatory, and technological requirements, operational hours, and time zone differences. Additionally, the complexity of implementing financial integrity controls (such as anti-money laundering and customer verification) is increasing, as in the existing financial infrastructure, the same transaction typically goes through multiple intermediaries. Project Agorá aims to improve these situations by utilizing a “public-private programmable core financial platform”.