Bank of Canada Joins BIS Project Agorá to Test Tokenized Cross-Border Payments
The Bank of Canada has joined Project Agorá, an initiative by the Bank for International Settlements, to explore tokenization for improving cross-border payments. The project aims to enhance the speed, efficiency, and security of international payments.
Why it matters. Central banks and financial institutions are testing new technologies to improve global payment systems, which could lead to faster and more secure cross-border transactions.