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ECB’s Benoit Coeure to Lead Central Banking Digital Currency Initiative 2

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The Innovation Hub has been given the remit of identifying important trends in fintech that could benefit central bank operations and developing public infrastructure to boost the institutions’ operations.
Among the areas of focus are central bank digital currencies, global stablecoins and other payment innovations. According to its website, the group will also look at regtech, electronic markets, the digitization of trade finance and “the impact of big tech on financial intermediation,” (which, at a guess, includes the Facebook-led Libra project).
The new hub chief has previously said that Libra has “undoubtedly been a wakeup call for central banks and policymakers,” arguing that they should respond to the challenges brought by global stablecoins.
At the time, he acknowledged that Libra and similar efforts could help the unbanked join the financial system and make cross-border payments cheaper, faster and more transparent