BIS Appoints IMF Digital Money Expert as Head of Innovation Hub

BIS taps IMF digital money chief and CBDC backer as new head of Innovation Hub

The Bank for International Settlements (BIS) has named Tommaso Mancini-Griffoli, a leading figure in digital finance, as the new head of its Innovation Hub, starting in March 2026. This appointment underlines the BIS's commitment to exploring digital currencies and market innovations within the central banking community.

Key Takeaways

Tommaso Mancini-Griffoli is appointed as head of the BIS Innovation Hub, effective March 2026.
His role will focus on advancing technological solutions in central banking, including CBDCs and tokenized assets.
Mancini-Griffoli advocates for regulated digital currencies and warns about the risks of unregulated stablecoins.
The BIS Innovation Hub is involved in significant digital currency projects, including mBridge and Project Nexus.

Introduction of New Leadership in Digital Finance

The Bank for International Settlements (BIS) has announced the appointment of Tommaso Mancini-Griffoli as the new head of the BIS Innovation Hub, a move that takes effect in March 2026. Mancini-Griffoli is widely recognized as one of the foremost economists in digital money.

In this role, the BIS expects Mancini-Griffoli to drive initiatives aimed at exploring technological advancements for central banks, specifically focusing on central bank digital currencies (CBDCs), tokenized assets, and innovative market infrastructure.

Background of New Head – Tommaso Mancini-Griffoli

Currently serving as the assistant director within the International Monetary Fund’s (IMF) Monetary and Capital Markets Department, Mancini-Griffoli spearheads efforts regarding payments and currencies. He is an influential advocate for regulated and publicly-supported digital money models, frequently raising concerns about the potential dangers posed by unregulated stablecoins.

His appointment aligns with the BIS Innovation Hub's efforts to undertake ambitious projects that enhance its global presence. The Hub serves as an important platform for experimenting with blockchain-based settlement systems and digital currency prototypes.

Vision for CBDCs

Mancini-Griffoli has represented the IMF at various international forums discussing CBDCs and payment systems. He consistently maintains that a stable future for digital currencies is more likely to be achieved through hybrid public-private arrangements rather than entirely private tokens.

In 2020, he proposed the idea of synthetic CBDCs—digital currencies issued by private institutions but fully backed by the reserves of central banks. This approach seeks to combine the safety of public funds with the innovative potential of the private sector.

Mancini-Griffoli also expressed support for tokenized financial instruments, provided they operate within a framework of public money that ensures systemic stability. In a September essay, he pointed out that stablecoins could pose structural risks if not supported by secure assets and robust governance mechanisms. He cautioned that poorly regulated issuers might lead users into situations of financial instability, such as liquidity issues and decreased value.

BIS Innovation Hub’s Current Projects

The BIS Innovation Hub is actively running several noteworthy digital currency experiments. Among these are the cross-border CBDC settlement network known as mBridge, the tokenized deposit infrastructure called Agora, and a system for real-time payments and interoperable CBDCs known as Project Nexus.

These initiatives exemplify the BIS's dedication to redefining traditional finance through innovative, blockchain-inspired solutions. Under the leadership of Mancini-Griffoli, the Innovation Hub is expected to accelerate its efforts on impactful projects ranging from cross-border payment systems to tokenized deposits and seamless CBDC integrations.