IMF’s “High-Level Advisory” Welcomes the Likes of Circle CEO and Ripple Founder to the Group

A recent AMB Crypto revealed the bridging of the crypto world and society, as Circle’s CEO, Jeremy Allaire, and Ripple’s Founder and Chairman, Chris Larsen become members of International Monetary Fund’s [IMF] High-level advisory group. The main area of discussion supposedly included financial technology, with additional emphasis on the aspects of data and security (

An official announcement has since been made by IMF, which indicated their current stance on seeking key players within the public and private sectors. In particular, the statement read:

“Following the launch of the Bali Fintech Agenda, developed by IMF and World Bank, the Fund is deepening its engagement with a broad range of public and private sector stakeholders.”

Evidently, the Bali Fintech Agenda appears to be the foundation of this endeavor. The Agenda itself stemmed into existence due to the rapid growth witnessed within the financial technology world. Furthermore, it supposedly addresses possible issues that policymakers should consider, all of which have been classified as “12 elements” based off of the

“experiences of member countries”

Another area that the Bali Fintech Agenda supposedly targets is that of fintech’s ability to bring a

“social and economic impact, particularly in low-income countries, small states, and for the underserves, and prepare to capture its possible wide-ranging benefits, including: […] improving cross-border payments and remittance transfer systems.”

The latter point seems to hint the potential use of blockchain technology and cryptocurrencies.

According to the Managing Director of IMF, Christine Lagarde, the inclusion of different players is essential in understanding how to deal with fintech. More specifically, she believes that,

“part of this [specific work programs on fintech] will involve research and policy analysis focusing on some of the themes highlighted in the Agenda.”

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