Circle Responds to the International Settlement Bank Blockchain Project Agorá Collaborating with Seven Central Banks to Simplify CrossBorder Payment Processes

Project Agorá recently issued a public call for participation from private businesses, hoping to overcome current payment challenges, especially in 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 enforcing financial integrity controls (such as anti-money laundering and customer verification) will increase, as in the existing financial infrastructure, the same transaction usually goes through multiple intermediaries. Project Agorá aims to improve these situations through a “public-private programmable core financial platform.”