Core Viewpoint - Standard Chartered CEO Bill Winters believes that all global transactions will eventually settle on blockchains and that all money will be digital, indicating a significant shift in the financial system [1][2]. Group 1: Transition to Blockchain - Winters described the anticipated transition as a fundamental restructuring of the financial system, although the exact process of this transformation remains uncertain [2]. - HSBC CEO Georges Elhedery expressed optimism about Hong Kong's fintech future, highlighting the city's leadership in digital asset regulation and support for blockchain experimentation [3]. Group 2: Stablecoin Initiatives - Standard Chartered announced a joint venture with Animoca Brands and HKT in February 2025 to pursue a license for issuing an HKD-backed stablecoin, combining the bank's financial infrastructure with Web3 expertise and mobile wallet capabilities [4]. - The bank participated in the Hong Kong Monetary Authority's stablecoin issuer sandbox, which launched in July 2024 [4]. - Multiple institutions are competing to build payment settlement networks through stablecoin initiatives, indicating a competitive landscape in this area [5]. Group 3: Digital Asset Services - Standard Chartered launched an integrated spot trading service for Bitcoin and Ether in July 2025 for institutional clients, offering trading pairs for these digital assets [6]. - The bank has expanded its digital asset offerings through partnerships, including institutional crypto custody services with OKX in Europe [6]. Group 4: Regulatory Environment - Hong Kong regulators have established multiple sandbox programs and regulatory frameworks to position the city as a global digital asset hub, supporting blockchain innovation through licensing regimes and pilot programs for financial institutions [7].
Standard Chartered CEO: All Global Transactions Will Move to Blockchain