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  "raw_markdown_url": "https://finwiki.zksc.io/fintech/bis-agora-vs-mbridge-2026-update.md",
  "domain": "fintech",
  "title": "BIS Project Agorá vs mBridge · 2026 Evidence-Bounded Update",
  "entry_type": "wiki_entry",
  "frontmatter": {
    "title": "BIS Project Agorá vs mBridge · 2026 Evidence-Bounded Update",
    "aliases": [
      "bis-agora-vs-mbridge-2026-update",
      "agora-mbridge-2026",
      "mbridge-membership-boundary",
      "cbdc-tokenized-deposit-tradeoff"
    ],
    "domain": "fintech",
    "type": null,
    "created": "2026-05-25",
    "last_updated": "2026-07-30",
    "last_tended": "2026-07-30",
    "review_by": "2026-11-25",
    "confidence": "likely",
    "tags": [
      "fintech",
      "2026-event",
      "cbdc",
      "mbridge",
      "agora",
      "bis",
      "tokenized-deposit",
      "wholesale-payments"
    ],
    "status": "active",
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    "sources": [
      "https://www.bis.org/about/bisih/topics/cbdc/mcbdc_bridge.htm",
      "https://www.bis.org/speeches/sp241031.htm",
      "https://www.bis.org/about/bisih/topics/fmis/agora.htm",
      "https://www.bis.org/innovation_hub/projects/agora_list_participants.pdf",
      "https://www.bis.org/publ/arpdf/ar2026e3.htm"
    ]
  },
  "summary": "The BIS handed mBridge to its partners in October 2024 after the platform reached minimum viable product (MVP) stage. The BIS page says the MVP is enabled for real-value transactions subject to each jurisdiction's preparedness; it does not document commercial operation, an additional-member negotiat",
  "headings": [
    "BIS Project Agorá vs mBridge · 2026 Evidence-Bounded Update",
    "TL;DR",
    "Wiki route",
    "What's new in 2026 vs the 2025 baseline",
    "mBridge post-BIS — operational continuity",
    "The \"eighth member\" question",
    "Agorá prototype scope",
    "What the prototype establishes",
    "Legal and compliance boundary",
    "CBDC vs tokenized-deposit architecture trade-off"
  ],
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      "INDEX",
      "fintech/INDEX",
      "fintech/bis-project-agora-overview",
      "fintech/bis-project-agora-vs-mbridge",
      "fintech/bis-project-ensemble-overview",
      "fintech/bis-project-ensemble-vs-mbridge-dual-track",
      "fintech/bis-project-guardian-overview",
      "fintech/bis-project-guardian-vs-agora-asia-three-poles",
      "fintech/institutional-stablecoin-deposit-token-thesis",
      "fintech/jurisdiction-list-monetary-protectionism",
      "fintech/mbridge-bis-multi-cbdc-overview",
      "fintech/mbridge-bis-multi-cbdc-vs-agora",
      "fintech/mbridge-non-usd-settlement-ring-scale",
      "fintech/mbridge-six-central-banks-roster",
      "fintech/onchain-finance-vs-crypto-bifurcation"
    ],
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      "https://finwiki.zksc.io/ja/fintech/bis-project-ensemble-vs-mbridge-dual-track/",
      "https://finwiki.zksc.io/ja/fintech/bis-project-guardian-overview/",
      "https://finwiki.zksc.io/ja/fintech/bis-project-guardian-vs-agora-asia-three-poles/",
      "https://finwiki.zksc.io/ja/fintech/institutional-stablecoin-deposit-token-thesis/",
      "https://finwiki.zksc.io/ja/fintech/jurisdiction-list-monetary-protectionism/",
      "https://finwiki.zksc.io/ja/fintech/mbridge-bis-multi-cbdc-overview/",
      "https://finwiki.zksc.io/ja/fintech/mbridge-bis-multi-cbdc-vs-agora/",
      "https://finwiki.zksc.io/ja/fintech/mbridge-non-usd-settlement-ring-scale/",
      "https://finwiki.zksc.io/ja/fintech/mbridge-six-central-banks-roster/",
      "https://finwiki.zksc.io/ja/fintech/onchain-finance-vs-crypto-bifurcation/"
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    "external_links_count": 7,
    "external_links": [
      "https://www.bis.org/about/bisih/topics/cbdc/mcbdc_bridge.htm",
      "https://www.bis.org/about/bisih/topics/fmis/agora.htm",
      "https://www.bis.org/innovation_hub/projects/agora_list_participants.pdf",
      "https://www.bis.org/publ/arpdf/ar2026e3.htm",
      "https://www.bis.org/speeches/sp241031.htm",
      "https://www.hkma.gov.hk/eng/key-functions/international-financial-centre/fintech/project-ensemble/",
      "https://www.mas.gov.sg/schemes-and-initiatives/project-guardian"
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