Circle responds to the BIS blockchain project Agorá collaborates with seven central banks to simplify crossborder payment processes

Project Agorá recently issued a public call for the participation of private sector entities, hoping to overcome current payment challenges, especially in cross-border payments, through the joint efforts of public-private partnership. Cross-border payments will face challenges such as different legal, regulatory, and technical requirements, operational hours, and time zone differences. Additionally, the complexity of implementing financial integrity controls (such as anti-money laundering and customer verification) is also increased, as in the existing financial infrastructure, the same transaction typically goes through multiple intermediaries. Project Agorá aims to improve these situations through a “public-private programmable core financial platform”.