Bank of Korea Governor Hyun Song Shin has been appointed chair of an international committee responsible for global payment and settlement standards. The appointment gives South Korea a larger voice 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 takes over from 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 strengthen 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 take over from him on April 1 for a two-year term.

Shin Supports Government Bond Tokenization

Shin previously pointed to government bond tokenization as one of blockchain technology’s most promising applications at an ECB forum in Sintra, Portugal, in July 2026.

He said tokenization could combine the transfer of bond ownership with payments, reducing settlement delays and operational errors.

South Korea is also testing digital currencies and tokenized bank deposits through Project Hangang. Shin has additionally highlighted Project Agora, a BIS initiative exploring tokenized currencies for more efficient cross-border payments.

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Source: coinedition.com. Adapted by NBTC.