Bank of Korea Governor Hyun Song Shin has been appointed chair of an international committee responsible for global payment and settlement standards. His appointment gives South Korea a greater role in discussions about financial infrastructure as central banks explore digital currencies and tokenized assets.
Shin began his three-year term at the Bank for International Settlements (BIS) on November 1. He succeeds Bank of Italy Governor Fabio Panetta and becomes the first central bank governor from outside the United States and Europe to lead the Committee on Payments and Market Infrastructures (CPMI).
BIS Announces Additional Leadership Changes
The CPMI works with central banks to improve payment and settlement systems and develop international standards for financial institutions.
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Separately, the BIS extended Bank of Canada Governor Tiff Macklem’s term as Chair of its Consultative Council for the Americas until March 31, 2027. Central Bank of Argentina Governor Santiago Bausili will succeed him on April 1 for two years.
Shin Supports Government Bond Tokenization
Shin previously identified government bond tokenization as one of blockchain technology’s most promising applications during an ECB forum in Sintra, Portugal, in July 2026.
He said tokenization could combine bond ownership transfers and payments, reducing settlement delays and operational errors.
South Korea is also testing digital currencies and tokenized bank deposits through Project Hangang. Additionally, Shin has highlighted Project Agora, a BIS initiative exploring tokenized currencies for more efficient cross-border payments.
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