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

Project Agorá recently launched a public call for the participation of private enterprises, 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 technical requirements, operational hours, and time zone differences. Additionally, the complexity of implementing financial integrity controls (such as anti-money laundering and customer verification) has increased, as in traditional financial frameworks, the same transaction usually goes through multiple intermediaries. Project Agorá aims to improve these situations through a “public-private programmable core financial platform.”