Project Agorá Completes First Real-Value Settlement Test on Tokenized Central Bank Reserves

## Project Agorá Just Moved Real Money on a Central Bank Ledger That Was Never Supposed to Need a New Coin ### In July 2026, five reserve-currency central banks settled roughly CHF 800,000 across 17 real-value scenarios on a shared tokenized ledger, and the design choice behind it, no new digital currency, is the more consequential story than the dollar figure Key Takeaways Project Agorá completed real-value testing (RVT) in July 2026, settling approximately CHF 800,000 across 17 transaction scenarios involving CHF, EUR, GBP, JPY, KRW and USD, per the Bank for International Settlements. Twenty-eight institutions, five central banks (Bank of England, Bank of France for the Eurosystem, Bank of…