Circle Internet Financial has announced its application to join Project Agorá, a collaboration between the Bank for International Settlements (BIS), the Institute of International Finance (IIF), banks, and the private sector, to explore the potential of tokenization in improving cross-border payments. As the largest regulated stablecoin issuer globally, Circle aims to leverage its expertise in digital currencies and blockchain technology to enhance global financial transactions and compete on equal terms with banks in public-sector innovation projects. The company has a history of facilitating cross-border payments, exemplified by its partnership with the United Nations High Commission for Refugees (UNHCR) to deliver aid in Ukraine using its USDC stablecoin. Circle views blockchain technology as a transformative opportunity to create a globally connected financial system, modernizing outdated settlement systems with the internet's efficiencies.