The Bank for International Settlements said Fabio Panetta will take over as chair of its Committee on Payments and Market Infrastructures (CPMI), as part of a changeover in committee leadership.

The incoming Bank of Italy governor has overseen work on the digital euro, as part of his current duties as executive board member at the European Central Bank. He previously said central bank digital currency (CBDC) could become a reality in the eurozone as soon as 2026.

Panetta is a former Bank of