BIS-AGORA

BIS Agora unified ledger wholesale CBDC + bank deposits.

Definition

Agora ambition: building on mBridge concept but expanded with (1) inclusion of commercial bank tokenized deposits (vs mBridge wholesale CBDC only), (2) 7 major currencies (USD, EUR, GBP, JPY, KRW, MXN, CHF) vs mBridge regional Asia-Middle East, (3) ISO 20022 messaging integration + SWIFT GPI compatibility, (4) programmable money smart contracts + automatic FX settlement + AML/CFT compliance integration. Architecture: permissioned blockchain custom BIS, central banks each control their wholesale CBDC + commercial banks accreditation (~30 commercial banks selected), Atomic PvP settlement. Timeline: 2024 design phase, 2025 pilot prototype, 2026+ production possible. Agora concept proposed by BIS Economic Adviser Carstens 2023 conference.

Origin

BIS Agora announced 3 April 2024 by BIS Innovation Hub New York ; 7 founding central banks + ~30 commercial banks ; 2024 design phase, 2025 pilot, 2026+ production.

Example in context

Hypothetical Bank of America transfers $1B USD to HSBC London via Agora 2026: wholesale Federal Reserve dCash USD + BAC tokenized deposit, atomic swap + Bank of England wholesale eGBP + HSBC tokenized deposit, settlement automatic via smart contract <1 minute vs 2-3 days traditional correspondent banking.

Related terms

• BIS mBridge — predecessor project.