28 banks including JPMorgan and Citi test tokenized money in $1m BIS cross-border pilot

Twenty-eight global banks, including JPMorgan, Citi and UBS, participated in a live Bank for International Settlements (BIS) pilot, moving real money across borders using blockchain-based settlement. The transactions totalled $1 million. The test was designed to assess the practical viability of tokenized money for international payments.