Circle Supports BIS Blockchain Project Agorá Collaborates with Seven Central Banks to Streamline CrossBorder Payment Processes

Project Agorá recently launched a public call for participation from private sector entities, hoping to overcome current 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) increases, as in traditional financial frameworks, the same transaction typically goes through multiple intermediaries. Project Agorá aims to improve these circumstances through a “public-private programmable core financial platform.”