Thirty Banks Complete Tokenized Payment Trial with Project Agorá

Thirty institutions, including JPMorgan, Citi, and UBS, have completed a trial of Project Agorá's tokenized payment system. The trials involved processing approximately CHF 800,000 across six currencies using tokenized central bank reserves and commercial bank deposits.

The testing covered various scenarios, including corporate payments, interbank transfers, and dual currency transactions. Transactions took an average of around 80 seconds to settle, demonstrating the potential for accelerated cross-border payments.

Project Agorá used blockchain infrastructure provided by Kaleido, with SIX coordinating the transactions. The trial showed that tokenization could improve transparency and operate alongside existing banking systems across multiple jurisdictions.