BIS Taps Benoît Cœuré to Lead Digital Currency Initiative

Benoît Cœuré, outgoing member of the executive board of the European Central Bank (ECB), has been chosen to lead the Bank for International Settlements’ (BIS) newly created Innovation Hub.

The Hub, BIS said in an announcement, is mandated with identifying and developing “in-depth insights into critical trends in technology affecting central banking” as well as developing “public goods in the technology space geared towards improving the functioning of the global financial system.” Among the Hub’s potential topics of focus are central bank digital currencies, global stablecoins, regtech, and other financial innovations.

Cœuré, who previously led a Group of Seven working group on global stablecoins, said that he was very happy to join the Basel-based institution:

I am very happy to be joining the BIS. I look forward to bringing my expertise to the global central banking community at this time of rapid technological change. We must make the best use of innovation to support financial stability and promote financial inclusion.

Photo: EU2016 SK