
Under the direction of the Bank for International Settlements (BIS), a group of central banks from around the globe unveiled 'Project Agora,' a new project to investigate how tokenization might improve current financial systems. The goal of this project is to combine commercial bank deposits and wholesale tokenized central bank money into a single, programmable platform. Agustín Carstens, general manager of the BIS, called for central banks globally to lead digital innovation in November 2023, citing CBDCs as a key component of this leadership.
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