The Federal Reserve Bank of New York's New York Innovation Center (NYIC) today announced that it will participate in an international technical research project that will explore whether the tokenization of central bank money and commercial bank deposits operating on a shared programmable ledger can improve wholesale cross-border payments. Project Agorá, a new effort led by the Bank for International Settlements (BIS) Innovation Hub in partnership with the Institute of International Finance, will bring together seven central banks and financial institutions from each of their respective jurisdictions to research ways t ... (full story)