Circle responds to the BIS 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 businesses, hoping to overcome the challenges of today’s payments, especially cross-border payments, through the joint efforts of public and private partners. Cross-border payments will also face challenges such as different legal, regulatory, and technical requirements, as well as differences in operating hours and time zones. Furthermore, the complexity of implementing financial integrity controls (such as anti-money laundering and customer verification) increases, as in the existing financial structure, the same transaction typically involves multiple intermediary institutions. Project Agorá aims to improve these situations through a “public-private programmable core financial platform”.