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The Bank for International Settlements (BIS) has recently announced the latest progress on Project Agorá, showcasing how tokenization technology is being applied to cross-border wholesale payment scenarios. This initiative brings together seven central banks and over 40 financial institutions. Leveraging a dual-layer blockchain framework and atomic settlement mechanisms, Project Agorá enables cross-border funds to be settled within seconds once liquidity is secured, while simultaneously mitigating settlement and credit risks. Project Agorá is also recognized as a significant experiment in the digital transformation of global financial infrastructure.

Gate Research Daily Report: On June 25, the crypto market continued its recovery as BTC rebounded from 98,000 USDT, forming a V-shaped structure, while ETH remained in a consolidation pattern. Market sentiment has shifted toward greed. Among top-performing tokens, CFG surged 16.8% as renewed attention focused on its tokenized U.S. Treasury fund JRTSY. APT rose over 12% driven by the launch of its new project “Shelby,” and VELO gained nearly 9% following its cross-border product expansion with Solana. Solana’s CME futures volume hit a record high, signaling increased institutional activity. Meanwhile, the BIS criticized stablecoins for lacking core monetary attributes and advocated for a unified ledger and tokenized central bank assets. Ethereum developers proposed reducing block time to 6 seconds to enhance performance and lower costs.

Global financial infrastructure is steadily advancing toward tokenization and digitization. Cross-border payments are transitioning from traditional bank settlement models to innovative frameworks that incorporate blockchain technology and shared ledgers. Project Agorá, an important research initiative spearheaded by the Bank for International Settlements (BIS) alongside several central banks and financial institutions, is dedicated not only to enhancing payment efficiency, but also to building a next-generation cross-border payments ecosystem that upholds both financial stability and regulatory compliance.

As global demand for cross-border payments continues to rise, improving payment efficiency, lowering settlement costs, and maintaining financial security have become critical issues for central banks and financial institutions around the world. Project Agorá, spearheaded by the Bank for International Settlements (BIS) in partnership with several central banks and financial entities, is a research initiative focused on cross-border payments. The project seeks to reimagine wholesale cross-border payment workflows using technologies like tokenized finance, shared ledgers, and atomic settlement.

The future is bright for leading payments, fintech, and neobank players, who can leverage stablecoins to streamline operations and accelerate global expansion. It also opens new opportunities for domestic stablecoin issuers to position themselves and ready their payment systems for global interoperability—an area where stablecoins are poised to succeed where the bureaucratic BIS’s ‘Finternet’ vision will quickly fall short.

Using bank lending as a starting point for analyzing DeFi lending ignores the unique characteristics of each form of lending. It also suggests that banks have an impenetrable moat around credit intermediation without acknowledging the broader backdrop of technical and social change at the edges of the global financial architecture.

Looking at the Web3 industry, while slogans of "Mass Adoption" are shouted every day, the reality is a fascination with hyping meme coins and indulging in the short-term attention economy. This stark contrast raises the question: as traditional financial institutions actively work to scale the application of blockchain technology, should the Web3 industry also reconsider its development direction?

Describe what stablecoins are in straightforward terms, how they operate, and why recent regulatory developments are steadily reshaping the global financial landscape.

This article provides an in-depth analysis of Blackrock's tokenized fundThe BlackRock USD Institutional Digital Liquidity Fund（ BUIDL）, examining how it operates and how it connects traditional finance to the crypto world through USDC bridging in DeFi."

This article explores all the advantages of tokenization enabled by "Unified Ledger" and how it can improve the old system and build a new one.

This article outlines a blueprint for a future monetary system that harnesses the transformative potential of tokenization to improve existing structures and open up new possibilities.

MoneyGram, a leading international remittance service provider, has recently introduced the MGUSD USD stablecoin, deploying it on the Stellar blockchain network. By integrating this stablecoin into its proprietary application, MoneyGram seeks to empower users to hold digital dollars, facilitate global fund transfers, and convert to local fiat currencies. This initiative underscores the cross-border payments industry's ongoing shift toward incorporating blockchain technology and stablecoins as foundational infrastructure.

Cryptocurrencies and central bank digital currencies (CBDCs) have attracted global attention, as they are both innovative forms of digital currency. While they are interconnected, they also exhibit differences.

The article provides a detailed analysis of the technical characteristics of Cosmos, including how it supports the customized needs of sovereign blockchains and compares it with other technological routes such as mBridge.

This article delves into the status of Bitcoin (BTC) in the cryptocurrency field and the challenges it faces, especially from the competition with dollar stablecoins. The article reviews Bitcoin's early use as a currency and its innovations in the financial sector, while also pointing out the limitations of Bitcoin in practical applications. It analyzes how dollar stablecoins are gradually replacing BTC and ETH as the main trading mediums and discusses how the United States is expanding its monetary dominance through the digital cryptocurrency market. Additionally, the article explores the future of blockchain technology, the potential of crypto assets, and how the integration of decentralized finance (DeFi) and real-world assets (RWA) can benefit the US. Finally, the author holds an optimistic view of the future of cryptocurrencies, believing that the new generation of cryptographic technologies will drive the progress of decentralization.