Sasha Mills
Executive Director, Financial Market Infrastructure, Bank of England
The Bank of England official responsible for financial market infrastructure brings a regulatory and operational perspective to sterling stablecoins, tokenised settlement and resilient digital markets.
Why the room needs them.
Mills works at the intersection of financial stability, payments infrastructure and digital-asset regulation. Her remit is directly relevant to discussion of non-dollar stablecoins because the Bank of England is developing the regime for sterling-denominated systemic stablecoins while examining their use in wholesale settlement and the Digital Securities Sandbox.
The full account.
Sasha Mills is Executive Director of Financial Market Infrastructure at the Bank of England. The Bank’s biography assigns Mills responsibility for advancing the security and reliability of the infrastructure supporting the UK financial system. Her remit includes risk-based supervision of financial market infrastructures, domestic and international policy for payments and stablecoins, and international policy concerning margin. Mills represents the Bank on the Committee on Payments and Market Infrastructures and in CPMI-IOSCO and related international groups.
Mills moved from the Resolution Directorate to the Financial Market Infrastructure executive directorship in September 2022. The Bank’s 2022/23 annual report records September 2022 as the start of her appointment and confirms that she had held the Resolution post until that month. A CPMI report lists Mills as the Bank of England representative from October 2022. Before the appointment, Mills had led the Bank’s Resolution Directorate since 2018. Her work there concerned arrangements for resolving failing banks, building societies, investment firms and central counterparties while protecting financial stability. An earlier Bank speech identifies Mills as Director, Cross Cutting Policy, in February 2016. The current Bank biography states that her preceding Prudential Policy Directorate role covered cross-cutting and insurance policy.
Mills’s recent public work has focused on the infrastructure and regulatory conditions for digital finance. In July 2025, she discussed the Bank’s developing approach to systemic stablecoins, tokenised deposits, wholesale settlement and the Digital Securities Sandbox. In January 2026, she identified systemic stablecoins, tokenised collateral and the Digital Securities Sandbox as the Bank’s three innovation priorities for the year. The speech also described work with the Financial Conduct Authority to test regulated stablecoins as settlement assets in the sandbox.
On 11 March 2026, Mills appeared with Bank of England Deputy Governor Sarah Breeden before the House of Lords Financial Services Regulation Committee during its inquiry into stablecoin growth and regulation. The corrected transcript identifies Mills by her Bank title and records her evidence on backing assets, liquidity, holding limits, interoperability and the legal separation of stablecoin reserves.
Proof of Talk listed Mills among its Paris 2026 speakers with the title “Executive Director, Financial Market Infrastructure, Bank of England”. Its Stable Day programme listed her for “Beyond USD: The Future of Euro, Sterling and Swiss Franc Stablecoins”, scheduled for 3 June 2026 from 14:00 to 14:40 on the Main Stage.
What Sasha believes about the next ten years.
Years of shipping.
Lines that keep proving correct.
“Stablecoins have the potential to modernise retail and wholesale payments, enabling faster, cheaper and more efficient transactions.”
“We want to continue working with industry to start building on the foundations we, and others, have put in place.”
“Also, this crucial point about no co-mingling of those backing assets is an important part of the regimes across the world, because the coin holder is the beneficial owner of those and that needs to be legally separate.”
The next Proof of Talk is in Abu Dhabi.
Louvre Abu Dhabi, 3–4 December 2026. Admission is by application, and the room is capped at 2,000.
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