28 Global Banks Test Tokenized Money in $1M BIS Blockchain Settlement Pilot

TL;DR: 

• A group of 28 international financial entities completed 30 operational transactions worth nearly $1 million through a shared platform on July 30, 2026. 
• The average recorded time for settling transfers across six different currencies was approximately 80 seconds during system testing. 
• Operations utilized tokenized commercial bank deposits and central bank reserves on a single distributed ledger developed under Project Agorá.

This Thursday, the Bank for International Settlements (BIS) and a consortium of 28 global financial institutions completed an operational pilot focused on using tokenized money for cross-border payments. The initiative executed an approximate total volume of $1 million through the programmable infrastructure developed under Project Agorá.

The technical trial involved 30 settled transactions among top-tier banking entities, including firms like JPMorgan, Citi, UBS, and Lloyds Banking Group. Six international currencies were used to perform the transfers, including the Swiss franc and the U.S. dollar.

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