Circle Joins Agorá a Blockchain Project by the Bank for International Settlements in Collaboration with Seven Central Banks to Simplify CrossBorder Payment Processes

Project Agorá recently issued a public call for participation from private operators, hoping to overcome current challenges in payments, especially cross-border payments, through the joint efforts of public-private partnerships. Cross-border payments will face challenges such as different legal, regulatory, and technical requirements, as well as differences in operating hours and time zones. Furthermore, the complexity of implementing financial integrity controls (such as anti-money laundering and customer verification) will increase, as transactions under the existing financial framework typically involve multiple intermediary institutions and are often repeated multiple times. Project Agorá aims to improve these circumstances through a “public-private programmable core financial platform”.