Tokenization and the Financial System: Adapting to the New Landscape

Wednesday, Apr 23, 2025 | 03:45 PM - 04:45 PM

Location: HQ1 Atrium HQ1-1-700


 


OVERVIEW

 

The panel will look below the surface of financial assets and examine the critical infrastructure through which these assets are recorded and exchanged - the backbone of the International Monetary System. Panelists will discuss the ongoing activities of central banks and international financial institutions on tokenization and financial platforms, and how they could contribute to shape the financial system of the future.


OPENING REMARKS

 

Kristalina Georgieva
Managing Director, IMF

Kristalina Georgieva is the Managing Director of the International Monetary Fund (IMF). She is the first person from an emerging market economy to lead the IMF since its inception in 1944. Before joining the Fund, Ms. Georgieva was Chief Executive Officer of the World Bank and also served as Interim President for a time. Previously, she served at the European Commission as Vice President for Budget and Human Resources – and as Commissioner for International Cooperation, Humanitarian Aid and Crisis Response. She was named “European of the Year” and “Commissioner of the Year” by European Voice for her leadership in the European Union’s humanitarian response to crises.

SPEAKERS

 

Michele Bullock
Governor of the Reserve Bank of Australia

Michele Bullock started as Governor on September 18, 2023. She is Chair of the Reserve Bank of Australia (RBA) Governance, Monetary Policy and Payments System Boards and Council of Financial Regulators.

Prior to her current role, Ms Bullock was the RBA Deputy Governor. She has also held a variety of senior management positions at the RBA. She was Assistant Governor (Financial System), Assistant Governor (Business Services), Assistant Governor (Currency), Adviser for the Currency Group and, before that, Head of Payments Policy Department.

Ms Bullock is a Member of Chief Executive Women - an Australian organization that supports women entrepreneurs and those in leadership positions and those aspiring to be senior executives.

Ms. Bullock holds an MSs from the London School of Economics

 

Agustin Carstens
General manager, Bank for International Settlements

Agustín Carstens became General Manager of the Bank for International Settlements (BIS) on 1 December 2017.

Mr. Carstens was Governor of the Bank of Mexico from 2010 to 2017. A member of the BIS Board from 2011 to 2017, he was chair of the Global Economy Meeting and the Economic Consultative Council from 2013 until 2017. He also chaired the International Monetary and Financial Committee, the IMF's policy advisory committee from 2015 to 2017.

Mr. Carstens began his career in 1980 at the Bank of Mexico. From 1999 to 2000, he was Executive Director at the IMF. He later served as Mexico’s deputy finance minister (2000–03) and as Deputy Managing Director at the IMF (2003–06). He was Mexico's finance minister from 2006 to 2009.

Mr. Carstens has been a member of the Financial Stability Board since 2010 and is a member of the Group of Thirty.

Mr Carstens holds an MA and a PhD in economics from the University of Chicago.

Piero Cipollone
Member of the Executive Board of the European Central Bank

Piero Cipollone has been a member of the Executive Board of the European Central Bank since 1 November 2023. He is responsible for the Directorate Banknotes, the Directorate General International and European Relations and the Directorate General Market Infrastructure and Payments.

Before joining the ECB, Mr. Cipollone was Deputy Governor of the Banca d’Italia and a member of the Board of the Italian Institute for the Supervision of Insurance. He previously served as an Executive Director on the Board of the World Bank Group.

Mr Cipollone holds a MA in economics from Stanford University and was a visiting scholar at the economics department of the University of California, Berkeley.

Mr Cipollone is the author of several books. His papers have been published in international journals such as the American Economic Review, the Journal of the European Economic Association and the Journal of Policy Modeling.

Nandan Nilekani
Chairman and Co-founder of Infosys and Founding Chairman of UIDAI (Aadhaar)

Nandan Nilekani is the Co-Founder and Chairman of Infosys Technologies Limited. He was the Founding Chairman of the Unique Identification Authority of India (UIDAI) in the rank of a Cabinet Minister from 2009-2014.

Nandan has co-founded and is the Chairman of EkStep Foundation, a not-for-profit effort to create a learner centric, technology-based platform to improve basic literacy and numeracy for millions of children. In Jan 2023, he was appointed as the co-chair of the G20 Task Force on Digital Public Infrastructure for Economic Transformation, Financial Inclusion, and Development.

Born in Bengaluru, Nilekani received his Bachelor’s degree from IIT, Bombay. In 2014, He won The Economist Social & Economic Innovation Award for his leadership of India’s Unique Identification initiative (Aadhaar). TIME Magazine has featured him on 100 Most Influential People in AI in 2024.

Nandan Nilekani is the author of several books. The last “The Art of Bitfulness: Keeping Calm in the Digital World” was released in 2022.

MODERATOR

 

Tobias Adrian
Financial Counsellor and Director of the Monetary and Capital Markets Department, IMF

Tobias Adrian is the Financial Counsellor and Director of the Monetary and Capital Markets Department of the International Monetary Fund (IMF). In this capacity, he leads the IMF’s work on financial sector surveillance, monetary and macroprudential policies, digital money, financial regulation, bank resolution, debt management, capital markets, and climate finance. He also oversees capacity building activities in IMF member countries with regard to the supervision and regulation of financial systems, bank resolution, central banking, monetary and exchange rate regimes, central bank digital currency, and debt management. 

Prior to joining the IMF, Mr. Adrian was a Senior Vice President of the Federal Reserve Bank of New York and the Associate Director of the Research and Statistics Group. At the Federal Reserve, he contributed to monetary policy, financial stability policies, and to crisis management.  

Mr. Adrian has published extensively in economics and finance journals. His research spans macro-finance, monetary policy, financial stability, and climate finance, with a focus on aggregate consequences of capital markets developments. He has taught at Princeton University and New York University. He is member of the editorial boards of the International Journal of Central Banking and the Annual Review of Financial Economics.  

Mr. Adrian holds a Ph.D. from the Massachusetts Institute of Technology in Economics, an MSc from the London School of Economics in Econometrics and Mathematical Economics, a Diplom from Goethe University Frankfurt and a Maîtrise from Dauphine University Paris. He received his Abitur in Literature and Mathematics from Humboldtschule Bad Homburg.