Cross-Border Payments Transformed: Santander, BBVA, and CaixaBank Participate in BIS 'Agora Project'

Tuesday, 17 September 2024, 00:42

Blockchain technology is at the forefront as Santander, BBVA, and CaixaBank join the BIS 'Agora Project' to enhance cross-border payment methods. The project aims to leverage blockchain's potential for efficiency and security in international transactions. This initiative marks a significant step forward in transforming payment systems globally.
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Cross-Border Payments Transformed: Santander, BBVA, and CaixaBank Participate in BIS 'Agora Project'

Blockchain Technology and Cross-Border Payments

In a groundbreaking development, Santander, BBVA, and CaixaBank are participating in the BIS 'Agora Project', which focuses on enhancing cross-border payment systems using blockchain technology. This initiative by the Bank for International Settlements aims to create innovative frameworks for international money transfers.

Benefits of the Agora Project

  • Increased Efficiency: This project promises to streamline cross-border transactions.
  • Enhanced Security: Utilizing blockchain technology adds a layer of security that traditional methods lack.
  • Global Reach: The initiative aims to facilitate easier money movement across borders.

Conclusion: The Future of Payments

As banks move forward with this project, it is anticipated that blockchain's adoption in cross-border payments will pave the way for a future where international transactions are seamless, safe, and swift.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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