BIS Appoints IMF Digital Money Chief and CBDC Advocate as New Head of Innovation Hub in 2026
The Bank for International Settlements has Tommaso Mancini-Griffoli, a senior official at the International Monetary Fund, as the new Head of the BIS Innovation Hub. He will assume the role on March 1, 2026, for an initial five-year term.
Mancini-Griffoli currently serves as Assistant Director in the IMF’s Monetary and Capital Markets Department, where he leads work on payments, currencies, and financial market infrastructure. He is also widely recognised for his work on central bank digital currencies and the evolving global framework for digital money.
His appointment comes at a pivotal time for the BIS, as central banks accelerate their exploration of digital currencies, tokenised assets, and next-generation payment infrastructure. The Innovation Hub plays a central role in coordinating research, experimentation, and cross-border collaboration among central banks, with a focus on improving the efficiency, resilience, and inclusivity of the global financial system.
Mancini-Griffoli replaces Cecilia Skingsley, who stepped down from the post earlier this year. Until his arrival, the Hub is being led on an interim basis by Andréa M. Maechler, formerly a member of the Swiss National Bank’s governing board.
The BIS Innovation Hub operates across a global network of centres in Europe, Asia, and North America. These centres work directly with central banks and public institutions to develop answers for challenges such as cross-border payments, data governance, cybersecurity, and the implementation of CBDCs.
Mancini-Griffoli leadership is expected to strengthen the BIS’s focus on sovereign digital money, interoperability between payment systems, and responsible innovation aligned with financial stability and public trust.
BIS Raises Alarm Over Stablecoins and Rising Systemic Risks in 2025
In its 2025 economic assessment, the Bank for International Settlements warned that increasing global fragmentation, persistent inflation pressures, and the rapid expansion of non-bank financial institutions are . The institution flagged growing leverage outside traditional banking, heightened exposure in sovereign debt markets, and fragileening policy cohesion as key threats that could amplify instability across regions.
At the identical time, the BIS expressed concern over the accelerating cross-border use of stablecoins, warning that their particularly in emerging and inflation-prone economies. The report highlighted the risk of “stealth dollarisation,” where individuals and businesses increasingly rely on privately issued digital currencies instead of domestic money, fragileening central banks’ control over monetary policy.
BIS also warned that as stablecoins become more intertwined with traditional asset markets, a sudden surge in redemptions could force large-scale liquidations of supposedly secure assets such as government bonds. It called for stronger, tailored regulatory frameworks to address liquidity risks, governance gaps, and cross-border spillovers unique to privately issued digital money.
