Regulatory Alerts2026-05-27
Added · Updated
Bank of Canada joins BIS Project Agorá to test improvements in wholesale cross-border payments
The Bank of Canada joins the Bank for International Settlements’ Project Agorá to test a prototype combining tokenized commercial bank deposits and wholesale central bank money on a programmable platform. The initiative involves seven other central banks and more than 40 financial institutions, including systemically important banks, payment service providers, and clearing houses. The project will continue testing the prototype to examine how an Agorá-type platform could operate within existing legal and regulatory frameworks, including rules on settlement finality and laws designed to counter money-laundering and terrorism financing.