Project Agorá: tokenising money for cross-border payments

Thomas Moser, alternate member of the governing board at the Swiss National Bank, joins OMFIF to discuss the unified ledger concept and how tokenisation might improve cross-border payments.

Can tokenisation solve the challenges of long processing times and high transaction costs in cross-border payments? Project Agorá is exploring the concept of a system that integrates tokenised versions of commercial bank money and wholesale central bank money. It is hoped that, by bringing together tokenised versions of both forms of money, cross-border payments can be made quicker, cheaper and safer.