🔥 BIS project finds tokenization could make cross-border payments faster, safer

A major experiment led by the Bank for International Settlements (BIS) found that tokenization could help fix some of the biggest pain points in cross-border payments, from slow settlement times to costly reconciliation between banks.

➡️Project Agorá, a joint effort between the BIS, seven central banks and more than 40 private financial institutions, concluded that tokenized central bank reserves and commercial bank deposits could support atomic settlement across currencies and jurisdictions.

🟠The initiative involved the Federal Reserve Bank of New York, Bank of England, Bank of Japan, Swiss National Bank and other central banks alongside large commercial banks and financial firms.

Project Agorá participants now plan to move beyond simulations toward testing real-value transactions involving some currencies and institutions. The Bank of Canada also joined the initiative this week. 🤝

❗️A cross-border transfers can bounce between several intermediary banks before reaching its destination at present, often taking days to settle and creating operational risks along the way. Using tokenization and blockchain rails could mean fewer delays and failed payments in the global financial system, the report showed.

@QSIMedia

🇺🇸 Trump in ‘Excellent Health,’ Took Cognitive Test, Doctor Says

President Donald Trump “remains in excellent health,” according to the White House doctor, after undergoing a physical earlier this week which included a cognitive test.

A memorandum by the physician, Captain Sean Barbabella, concluded that Trump, who turns 80 next month, “is fully fit to carry out all duties of the commander in chief and head of state.” He underwent a battery of tests and examinations at Walter Reed National Military Medical Center in Maryland.

@QSIMedia