projectagora

The Middle East and Asia are no longer monopolizing the blockchain spring: BIS, in collaboration with leading central banks and heavyweights like JPMorgan and Citi, has rolled out a successful prototype of Project Agorá. This proves that tokenizing reserves and commercial deposits on a single programmable ledger speeds up interbank cross-border settlements to mere seconds. This 'elite' ecosystem operates through smart contracts with atomic settlements 24/7 and, unlike the semi-crypto mBridge, keeps emission control in the hands of local regulators, eliminating manual compliance and those hellish delays in correspondent banking.

TradFi is successfully replicating decentralization technologies without using public blockchains, which will reduce the need for institutions to rely on stablecoins for interbank settlements in the long run but will locally support a bullish narrative around RWA tokenization.

#BIS #ProjectAgora #Tokenization #RWA #CrossBorderPayments

The BIS along with 7 central banks (including the New York Fed, the Bank of England, and the Bank of Japan).

#ProjectAgora aims to grab the "correspondent banking" system (which is slow and opaque) and elevate it to a Unified Ledger.

Their goal is to have commercial money (the kind held in banks) and wholesale money (central banks) live on the same network. They want the speed of blockchain while keeping the control of traditional banks.

The current tension between Agorá and public ledgers ($XRP /$XLM /$QNT )
Being a closed system ("permissioned"), Agorá faces a fragmented liquidity problem. If only selected banks are inside, the system doesn't have enough "fuel" to move all the value in the world.

The Advantage of XRP/XLM: These are open and neutral rails. They have global liquidity pools that operate 24/7.

#Clarityact : Central banks in Agorá are itching to use XRP liquidity, but they can't touch it unless it's legal in the U.S. The Clarity Act is the legal green light for the closed system (Agorá) to "plug into" the open rails (XRP Ledger / Stellar / Overledger).

The West needs Agorá to be more efficient than the Chinese system. The only way to outpace #mBridge in speed is by using the infrastructure that already works: your assets #ISO20022 .

mBridge is already up and running. Agorá is desperate to catch up. Thursday's Clarity Act is the "Go" for Wall Street capital waiting in Agorá to jump into the ISO infrastructure.