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Ivan Odonnat
General Director for Financial Stability & Operations
Banque de France
Ivan Odonnat is Director General for Financial Stability and Operations at the Banque de France. He also chairs the Banque de France Climate Change Centre.
Before, he was Head of the French Overseas central banks (IEDOM and IEOM). He previously held various management and expert positions in the Banque de France Research and Operations areas. He also served as Chief Economist of Agence France Tresor, the French debt management office in 2007-2009.
Ivan Odonnat joined the Banque de France in 1988. He is a graduate in Economics and Statistics from ENSAE in Paris, Public Administration from Harvard University and Mathematics from University of Paris VI.
Speaking at SFF 2026
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2:45–3:15pmWed 18 NovPolicy StageHall 3, Singapore EXPOOpen
Policy Rewiring
Can Regulation Be Written Into Money Itself? The Case for Rules in the Rails, Tokenized Deposits & Conditional Money
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Dr. Eva HüpkesSecretary GeneralInternational Association of Deposit Insurers
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Ivan OdonnatGeneral Director for Financial Stability & OperationsBanque de France
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Kazuki UedaDirector, Head of Fintech GroupBank of Japan
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Vira PlatonovaGlobal Head of Visa DirectVisaModerator
About this session
Tokenized deposits and conditional money take the programmability idea one layer deeper. They pilot whether settlement, eligibility and compliance can be embedded directly in the money rather than enforced around it. That raises a regulatory question few frameworks have caught up with: who is liable when the rule embedded in the transaction, not a human decision, turns out to be wrong. This discussion examines how the embedded-rules approach works in practice, and what it removes from the compliance function. It also looks at what new failure modes this introduces once the rule is baked into the transfer rather than checked afterwards. Attendees leave with a clearer view of where this model is genuinely ready, and where regulators are still working out how to hold it accountable. One key question the discussion will dive into: if compliance is embedded in the money itself, who is accountable when the embedded rule is wrong?
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4:30–5:00pmWed 18 NovPolicy StageHall 3, Singapore EXPOOpen
Policy Rewiring
Cross-Border Wholesale Connectivity: Building a More Connected Financial System
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Ivan OdonnatGeneral Director for Financial Stability & OperationsBanque de France
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Tommaso Mancini-GriffoliHead of the Innovation HubBank for International Settlements
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Dr. Alexandra HachmeisterDirector General Digital EuroDeutsche Bundesbank
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Tom MuttonExecutive Director of Payments Innovation & FintechBank of England
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Alan LimDirector & Head, Financial Infrastructure & Artificial Intelligence OfficeMonetary Authority of SingaporeModerator
About this session
As digital money, tokenized assets and next-generation financial infrastructures gain traction around the world, jurisdictions and institutions are adopting a growing range of technologies, infrastructure models and settlement systems. While this diversity is driving innovation, it also raises an important question: how can increasingly interconnected financial systems continue to operate seamlessly across borders — without waiting for a single global standard to emerge first?
This panel brings together the institutions alongside policymakers and innovators from Asia, Europe and the UK to discuss what regional cooperation actually requires in practice: unified ledgers, synchronisation mechanisms, privacy-preserving technologies, and the governance arrangements that let independently built systems trust one another.
The discussion will examine the technical, legal, operational and regulatory challenges involved in scaling these regional models, and explore how deeper connectivity between them — rather than a single unified global system — may be the more realistic path to an interconnected financial system. -
