Standard Chartered CEO Bill Winters has predicted that nearly all transactions will eventually take place on blockchain networks. Speaking at Hong Kong FinTech Week, Winters said that the transformation will amount to a “complete rewiring of the financial system,” with experimentation and innovation at its core.
Winters Hong Kong’s leadership in driving blockchain experimentation and regulatory clarity, indicating the city’s role as a regional hub for digital assets.
Standard Chartered has been an active participant in several local initiatives, including tokenization pilots and the Hong Kong Monetary Authority’s Project Ensemble, a wholesale central bank digital currency (wCBDC) project.
Alongside blockchain venture capital firm Animoca Brands and telecommunications company HKT, the bank is planning to launch a Hong Kong dollar-backed stablecoin under a new regulatory framework introduced in August.
Winters believes this could redefine cross-border trade, offering a new, digital medium of exchange for international transactions.
Moreover, Standard Chartered and Ant International successfully HKD-denominated intra-group transactions using Ant’s Whale platform, a next-generation treasury management system powered by blockchain, artificial intelligence, and advanced encryption.
The collaboration aims to enhance transparency, efficiency, and speed in corporate fund movements. Anthony Lin, Standard Chartered’s Head of Hong Kong and Greater China, stated that the firm is committed to adopting the latest technology to enable real-time, 24/7 treasury solutions.
The initiative is part of Standard Chartered’s active role in the Hong Kong Monetary Authority’s Ensemble Sandbox, which allows institutions to test tokenization use cases in a controlled environment.
Earlier this year, Standard Chartered the first globally systemically important bank to offer institutional spot trading for Bitcoin (BTC) and Ethereum (ETH).
The service, launched via its UK operations, integrates with the bank’s existing FX infrastructure, allowing clients to trade digital assets through familiar interfaces. Institutional clients can also choose between in-house and external custody solutions.
It is important to note that Standard Chartered will also introduce non-deliverable forwards (NDFs) trading in the near future, further cementing its dominance in crypto.
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