Starting January 15, 2020, Member of the Board of the European Central Bank Benoit Coeure will head the innovation hub at the Bank for International Settlements.

According to a press release, Coeure will study critical trends in the technology industry that affect central banks.

Benoit Coeure noted he is ready to share his experience during the time of rapid technological transformation.

“I am very happy to be joining the BIS. I look forward to bringing my expertise to the global central banking community at this time of rapid technological change. We must make the best use of innovation to support financial stability and promote financial inclusion.”

An innovation hub at the Bank for International Settlements “set up to foster international collaboration among central banks on innovative financial technology”. Among the areas of focus are central bank digital currencies, global stablecoins, and other payment innovations.

In March 2018, Benoit Coeure saw in the growing popularity of bitcoin evidence that the traditional banking system could not provide a working solution for international transfers. However, in November of the same year, he called Bitcoin “Evil Spawn of the Financial Crisis”.