The Bank for International Settlement is expanding tokenization agenda with Project Agora.
The project enjoins participation from major central banks and private companies including potential Chainlink integration.
The Bank for International Settlements (BIS) also known as the Central Bank for Central Banks, is now performing trials on how tokenized bank deposits can be integrated into financial systems with “Project Agora.”
BIS Strategic Approach With “Project Agora”
As revealed in a report, with “Project Agora”, BIS seeks to tokenize money and various financial instruments onto a unified ledger, thus facilitating seamless transactions on a global scale. While the details of the project remain unclear, a closer examination unveils a strategic approach driven by collaboration and innovation.
Simply explained, Tokenization is the process of developing digital assets that represent ownership of a physical asset, such as real estate, equities, or commodities. Tokenization c
