BMO joins BIS-led Project Agorá cross-border payments tokenization consortium
BMO•BMO joined Project Agorá, a public-private collaboration testing tokenization to improve wholesale cross-border payments, with eight central banks and more than 40 regulated financial institutions participating.
1. Testing tokenized payments
Project Agorá is testing whether tokenization can enable faster, more seamless multi-currency wholesale payments through programmability and reduce constraints tied to traditional operating hours. The project completed real-value, multi-jurisdictional tests in July 2026 and is assessing issues including tokenized central bank reserves and commercial bank deposits, anti-money-laundering and counter-terrorist-financing requirements, settlement rules and data privacy.
