Digital Currency II Conference

Programme

Thursday, May 15, 2025

• 12:30 Registration and Welcome Lunch

Fireside chat – Retail Digital Euro, Wholesale CBDC and the Banking System, and Tokenization Moderator: Jana Randow (Bloomberg)

• 13:30 - 14:30  Piero Cipollone (Member of the Executive Board, European Central Bank), François Villeroy de Galhau (Governor, Banque de France)
• 14:30 - 15:00 Coffee break

SESSION 1 - CBDC
Chair: Luciano Somoza (ESSEC)

• 15:00 - 16:00 Jon Frost (Bank of International Settlements), Jean-Charles Rochet (TSE), Hyun-Song Shin (Bank of International Settlements), and  Marianne Verdier (Université Paris Panthéon-Assas)
  Competing Digital Monies
  Discussant: Christine Parlour (Berkeley)

• 16:00 - 17:00 Rhys Bidder (King's Business School), Timothy Jackson (University of Liverpool) 
  Matthias Rottner (Deutsche Bundesbank & Bank of International Settlements)
  CBDC and banks: Disintermediating fast and slow  
  Discussant: Martina Fraschini (University of Luxembourg)

PANEL - Digitalization: Impact on Payments and the Banking Sector?
Moderator: tba

• 17:00 - 18:15 David Andolfatto (Professor of Economics, University of Miami)
  Jon Frost (Head of Innovation and the Digital Economy, Bank of International Settlements)
  Gordon Liao (Chief Economist & Head of Research, Circle Internet Financial)
  Basak Toprak (Executive Director, EMEA Head of Kinexys Digital Payments, JP Morgan)

Friday, May 16, 2025

• 08:45 - 09:15 Welcome Coffee

SESSION 2 - Crypto Pricing
Chair: Mariana Rojas-Breu (Université Paris Panthéon-Assas)

• 09:15 - 10:15 Austin Adams (Uniswap Labs), Markus Ibert (Copenhagen Business School, Swedish House of Finance) and Gordon Liao (Circle Internet Financial)
  What drives Crypto Asset Prices?  
  Discussant: Wenqian Huang (Bank of International Settlements)
   
• 10:15 - 11:15 Angelo Ranaldo (University of Basel), Ganesh Viswanath-Natraj (Warwick Business School) and Junxuan Wang (Cambridge Judge Business School)
  Blockchain Currency market  
  Discussant: Magali Marx (Banque de France)
   
• 11:15 - 11:30 Coffee break

PANEL - Wholesale CBDC: Impact on Financial Markets and Monetary Policy?
Moderator: Vincent Bignon (Banque de France)

• 11:30 - 12:45 Antoine Martin (Vice Chairman of the Governing Board, Swiss National Bank), Christine Parlour (Professor of Finance, Berkeley), Thomas Vlassopoulos (Deputy Director General, Market Operations, European Central Bank), Daniel Turquety (Chief Digital Officer, BNP Paribas CIB)
   
• 12:45 - 13:45 Lunch

SESSION 3 - Stability of Digital Finance and Banking
Chair: Vincent Maurin (HEC)

• 13:45 - 14:45 Francesca Carapella (Federal Reserve Board)
  Stablecoin self-regulation  
  Discussant: Guillaume Rocheteau (University of California - Irvine)
   
• 14:45 - 15:00 Coffee break
   
• 15:00 - 16:00 Jonathan Chiu (Bank of Canada) Emre Ozdenoren (London Business School, CEPR), Kathy Yuan (London School of Economics, FMG, CEPR) and Shengxing Zhang (Carnegie Mellon University, CEPR)
  On the Fragility of DeFi Lending  
  Discussant: David Andolfatto (University of Miami)
   
• 16:00 - 17:00 Tobias Berg (Goethe University Frankfurt), Jan Keil (Humboldt University of Berlin), Felix Martini (Frankfurt School of Finance & Management), and Manju Puri (Duke University)
  CBDCs, Payment Firms, and Geopolitics  
  Discussant: Carole Gresse (Paris Dauphine University)

ORGANIZING COMMITTEE
Nicolas Barbaroux (Banque de France)
Jean Barthelemy (Banque de France)
Vincent Bignon (Banque de France)
Régis Breton (Banque de France)
Fany Declerck (TSE)
Benoit Nguyen (European Central Bank)
Jean-Charles Rochet (TSE)
Mariana Rojas-Breu (Université Paris Panthéon-Assas)