Circle Responds to International Settlement Bank Blockchain Project Agorá Collaborates with Seven Central Banks to Simplify CrossBorder Payment Process

Project Agorá has recently issued a public call for participation from private businesses, aiming to address current issues in payments, particularly cross-border payments, through the joint efforts of public-private partnerships. Cross-border payments are faced with challenges such as different legal, regulatory, and technical requirements, as well as operational hours and time zone differences. Furthermore, the complexity of implementing financial integrity controls (such as anti-money laundering and customer verification) is also increasing, as in the existing financial framework, a single transaction typically involves multiple intermediary institutions. Project Agorá hopes to improve these situations through a “public-private programmable core financial platform”.