Project Agora is a digital cross-border payment project. Central bank coins (asset of commercial bank) and deposits (liability of commercial bank) will be sent cross-border.

On a unified ledger with smart contract (ability to execute code) functionality, the exchange between payer bank - correspondent banks - payee bank will be finalised at once.

Participants include commercial banks and central banks over US, UK, Switzerland, Europe, Japan, Korea, Mexico, and Mastercard, Visa.

As of Sep 2025, no decision is made whether to issue a digital pound.

Agora participants

Forms of money

References

Project Agora, https://www.bis.org/about/bisih/topics/fmis/agora.htm

Digital pound, https://www.bankofengland.co.uk/the-digital-pound

Bank of England innovation in money and payments conference, Sep 2025, https://www.bankofengland.co.uk/events/2025/september/boe-innovation-money-and-payments