Circle Responds to 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 current challenges in payments, especially cross-border payments, through the joint 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 typically involves multiple intermediaries. Project Agorá aims to improve these situations through a “public-private programmable core financial platform.”