#atomic settlement

➤ Project Agorá, developed by the Bank for International Settlements (BIS) with multiple central banks and financial institutions, aims to enable near-instant settlement of tokenized cross-border payments. ➤ The platform utilizes a two-layer blockchain architecture with tokenized central bank reserves and commercial bank deposits, promising to reduce credit and settlement risks and costs for global finance. ➤ Currently in real-value testing, the project seeks to modernize wholesale cross-border payments, addressing the high costs and slow speeds of current international transaction systems.

➤ The BIS's Project Agorá prototype successfully demonstrated atomic settlement for cross-border wholesale payments using tokenized central bank reserves and commercial bank deposits. ➤ The project achieved 'all or nothing' transaction execution across multiple currencies and jurisdictions, ensuring legal finality and privacy within a compliant framework. ➤ With participation from seven central banks and over 40 private institutions, the project will now move to real value testing, expanding private sector involvement.

➤ The Bank for International Settlements (BIS) has reported on Project Agorá, a prototype for tokenizing wholesale cross-border payments, achieving atomic settlement across multiple jurisdictions. ➤ The initiative, involving over 40 private financial institutions and eight central banks, aims to resolve inefficiencies like settlement delays and counterparty risk in traditional payment systems. ➤ Key advancements include legal confirmation of settlement finality and the development of privacy-preserving technologies, with plans for real-value testing involving an expanded private sector role.

➤ Project Agora, a collaboration involving BIS and seven central banks, has successfully completed atomic settlement testing for tokenized cross-border payments. ➤ The next phase will involve real-value cross-border payment trials, aiming to make these transactions faster, cheaper, and more efficient while preserving existing financial infrastructure like correspondent banking and SWIFT. ➤ This initiative aligns with broader industry trends towards tokenization, with potential implications for global payment systems and institutional adoption.

➤ Bybit CEO Ben Zhou spoke at the Goldman Sachs FinTech Conference, highlighting tokenization's potential to revolutionize trading through atomic settlement and 24/7 accessibility, moving beyond legacy T+2 limitations. ➤ The discussion emphasized Bybit's role as an infrastructure provider and the growing institutional interest in tokenized assets, including treasury instruments, with a focus on regulatory compliance and global distribution. ➤ Key watchpoints include Goldman Sachs' potential tokenization pilots, Bybit's licensing progress, RWA market liquidity growth, and stablecoin regulatory developments as crucial factors for future adoption.

➤ The XRP Ledger is presented as a strong candidate to power the next wave of SEC-regulated tokenized equities, boasting features like atomic settlement, programmable compliance, and a native DEX. ➤ Recent SEC decisions and the introduction of features like the Permissioned DEX and Multi-Purpose Tokens on the XRP Ledger align with regulatory demands for investor protection and compliance. ➤ With integrated features like RLUSD for near real-time settlement and a proven track record, the XRP Ledger offers a compelling alternative to existing platforms, potentially capturing significant market share in tokenized securities.

➤ Quant Network is advancing atomic settlement for tokenized assets through its Overledger protocol, participating in key initiatives with the Bank of England, UK's GBTD, and Hong Kong's EnsembleTX. ➤ The atomic Delivery versus Payment (DvP) mechanism aims to eliminate counterparty risk and reduce collateral requirements by ensuring simultaneous asset delivery and payment. ➤ DTCC is also tokenizing U.S. Treasury bonds on Canton Network, with a pilot deployment scheduled for the second half of 2026, highlighting the operationalization of atomic settlement for tokenized assets.

➤ Securitize Markets has received FINRA approval to underwrite tokenized IPOs and custody tokenized securities, enabling atomic settlement within its Alternative Trading System. ➤ This regulatory milestone allows for the end-to-end tokenization of private companies going public on-chain, collapsing traditional IPO processes and settlement times. ➤ The approval, coupled with the Coinbase-Centrifuge acquisition, signifies a significant step towards a fully functional regulated on-chain capital markets stack, with Securitize's SPAC merger (CEPT) offering public market exposure to this infrastructure.