The BIS said Project Agorá completed $1 million in real-value cross-border payment trials, with 28 financial institutions settling transactions across six currencies in about 80 seconds.

Twenty-eight banks, including JPMorgan, Citi and UBS, moved real money across borders in a live test of blockchain-based settlement.

JPMorgan, Citi, UBS and central banks completed Project Agorá tokenized payment trials, settling CHF 800,000 across six currencies.