BIS appoints Tommaso Mancini-Griffoli to lead its Innovation Hub as it advances CBDC pilots, tokenised deposits and digital money
The Bank for International Settlements has chosen Tommaso Mancini-Griffoli to lead its Innovation Hub from March.
His appointment arrives at a time when central banks are looking into major changes in payment systems, digital money frameworks and tokenised financial tools.
BIS brings in Mancini-Griffoli for a new phase of digital money work
The BIS revealed his appointment through a formal statement. He will serve a five-year term and join the executive committee at the Switzerland-based institution.
Mancini-Griffoli currently works at the International Monetary Fund as assistant director for the Monetary and Capital Markets Department. His role there covers payments, currencies and financial market infrastructure.
Tommaso Mancini-Griffoli has been appointed head of the #BISInnovationHub for a five-year term starting on 1 March 2026. More details here: https://t.co/3NPZuIysMz pic.twitter.com/LEkn4obq1y
— Bank for International Settlements (@BIS_org) November 25, 2025
The Innovation Hub started operations in 2019. The Hub studies new financial technology that could support central banks and public institutions. It also builds prototypes, tests platforms and supplies research for ongoing digital currency projects.
Additionally, its centres operate in Singapore, Hong Kong, London, Toronto, Stockholm, Frankfurt, Paris and Switzerland. The network has completed more than 30 projects so far and has over 20 running.
Mancini-Griffoli’s long record in digital money research
Mancini-Griffoli stands out as one of the most prominent voices on digital money inside the IMF.
His work covers CBDCs, payment rails, settlement systems and models for regulated digital assets. He has also urged caution toward private stablecoins that lack strong oversight or safe reserves.
For cross-border payments, the use of tokens or virtual currencies is a very interesting idea.
_Tommaso Mancini-Griffoli, a representative of the IMF_Note: Chris Larsen, Ripple’s Chairman is board member at IMF#ripple #XRP #xrapid #XRPcommunity pic.twitter.com/j8NKNRdebj
— BD (@DiepSanh) September 6, 2018
He often argues that secure digital money should combine public oversight and private innovation.
One of his most discussed ideas is the synthetic CBDC model. That model allows the private sector to issue digital money while holding central bank reserves to protect users.
He noted that such arrangements could give private firms room to build new services while giving the system stronger safeguards.
He also supported tokenised financial instruments when they operate under clear rules. His work stresses the need for structures that protect users from liquidity issues or loss of value.
He also often warns that poorly designed products can expose users to unnecessary risks.
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BIS Innovation Hub tests digital currency ideas across several countries
The Innovation Hub runs some of the most advanced pilots involving digital currency and tokenised finance. The mBridge project links several central banks and tests cross-border CBDC settlement.
It also aims to improve cross-border payments that often face delays or high fees.
Another project, Agora, focuses on tokenised deposits. It studies how banks could issue tokenised versions of customer deposits and settle them through shared infrastructure.
The Hub also works on Project Nexus, a system that connects instant payment networks across countries. Nexus aims to help users send funds across borders using existing national payment systems.
Notably, all of these projects share a common trait. They look to upgrade traditional payment frameworks by using ideas inspired by blockchain technology.
The Hub does not seek to replace public money with private tokens. Instead, it studies how modern tools can work under central bank oversight.
The BIS also welcomed a new general manager earlier this year. Pablo Hernández de Cos took over after serving as governor of the Bank of Spain.
His term started in July and will last five years, as the organisation enters a period of leadership renewal.