Standard Chartered CEO Says All Money Will Be Digital

Standard Chartered CEO Bill Winters said all transactions will settle on blockchains and all money will become digital.

Bill Winters, Group Chief Executive of Standard Chartered since 2015, told Hong Kong FinTech Week that all transactions will eventually settle on blockchains and all money will be digital. Standard Chartered operates across 59 markets in Asia, Africa, and the Middle East with $914 billion in total assets. Winters called the shift a "complete rewiring of the financial system". He said the exact implementation is unknown, making experimentation necessary.​

Standard Chartered Builds Stablecoin

Standard Chartered is developing a Hong Kong dollar stablecoin with Animoca Brands. Winters credited Hong Kong regulators for balancing innovation with safeguards. The bank has previously partnered on tokenization projects and digital custody services.​

Industry Backs Hong Kong Hub

HSBC CEO Georges Elhedery cited the bank's $13.6 billion bid to privatize Hang Seng Bank as a confidence signal in Hong Kong's financial ecosystem. Paul Chan, Hong Kong's Financial Secretary, said mainland China provides backing through its population and wealth.