Global banks test tokenized money for cross-border payments in $1 million BIS pilot
Twenty-eight banks, including JPMorgan, Citi and UBS, moved real money across borders in a live test of blockchain-based settlement.
Source: CoinDesk
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DW NOTE
Twenty-eight banks moved $1 million across borders in 80 seconds using tokenized reserves — not impressive as a technical demonstration, but revealing as a regulatory one. The BIS doesn't run pilots to test whether blockchain works; it runs them to determine which version of tokenized money the central banks will permit. The question isn't speed, it's who controls the ledger when commercial bank deposits become programmable state variables.