Benoit Coeure to Lead European Central Bank's New Virtual Currency Project at BIS Innovation Hub

ECB executive will take the lead role at the Bank for International Settlements Innovation Hub to help initiative an international collaboration for central banks and financial technology.

Benoit Coeure, a former member of the executive board of the European Central Bank (EBC) has been assigned to lead the Bank of International Settlements (BIS)’s Innovation Hub, starting next year, and will continue in the position for the next five years. According to the press release, Coeure is happy to join the institution and to help with innovation in the international financial sector.

The official goal is to foster international collaboration between different central banks. The Innovation Hub will identify the most important trends in the fintech industry and develop the infrastructure to boost the operations of the institutions that can be improved by this innovation.

During his mandate on the BIS, Coeure will identify in-depth insights and find the most critical trends among industries such as electronic markets, regtech, and financial trades. The group will have three established central bases. One in Hong Kong, one in Switzerland and one in Singapore.

Coeure affirmed that he will bring his expertise to the table and that the Libra was a wake-up call for central banks around the world that they should start making changes or they would be impacted by stablecoins.

Benoir Has A Bad Track Record With Bitcoin

Before entering this new position, which certainly involves the creation of digital assets, Benoir Coeure has been criticized by the Bitcoin community. Last year, he affirmed that BT was the “evil spawn” of the 2008 financial crisis, which made him unpopular among Bitcoin investors.

It remains to be seen if he will continue to move forward with his anti-crypto stance or if he will start to adopt a more crypto-friendly agenda.

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Gabriel Machado
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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