Groupe BPCE announces its participation in Project Agorá
Groupe BPCE has been selected, along with more than forty banks and financial companies from the private sector, to participate in the Agorá project, in collaboration with the Bank for International Settlements (BIS), seven central banks, and the Institute of International Finance (IIF), to experiment with the use of tokenization technology in cross-border payments.
Project Agorá (Greek for "marketplace") is structured as a public-private collaboration. It brings together seven central banks: Bank of France (representing the Eurosystem), Bank of Japan, Bank of Korea, Bank of Mexico, Swiss National Bank, Bank of England and the Federal Reserve Bank of New York, convened by the Bank for International Settlements (BIS).
These central banks will work in partnership with a group of private financial companies, including Groupe BPCE, in collaboration with the Institute of International Finance (IIF).
The project will explore how to effectively connect tokenized deposits from commercial banks with tokenized central bank money (a digital version of the currency issued by central banks), all within a programmable financial platform, involving both public and private actors.
Nicolas Namias, CEO of BPCE: «True to its position as both a leading player in payments and a pioneer in innovation, Groupe BPCE is pleased to contribute to the success of the Agorá project through its recognized expertise in cross-border payments in Europe and around the world, as well as its proven tokenization solutions. »
