Circle collaborates with seven central banks to simplify crossborder payment processes in response to the International Bank for Settlements blockchain project Agorá

Project Agorá recently launched a public call for participation from private sector businesses, aiming to overcome current payment challenges, especially in cross-border payments, through the joint efforts of public-private partners. Cross-border payments will 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 hopes to improve these situations through a “public-private programmable core financial platform.”