Standard Chartered CEO Bill Winters just made one of the boldest blockchain predictions from a major banking executive, telling Hong Kong FinTech Week that nearly all global transactions will eventually settle on digital ledgers. The statement signals how quickly traditional banking is embracing what Winters calls a "complete rewiring of the financial system" - and it's happening faster than most realize.
Standard Chartered CEO Bill Winters just delivered one of the most sweeping blockchain predictions from a traditional banking executive, telling a Hong Kong audience that the entire global financial system is heading for a digital makeover.
"Pretty much all transactions will settle on blockchains eventually, and all money will be digital," Winters said during a panel at Hong Kong FinTech Week on Monday. "Think about what that means: a complete rewiring of the financial system."
The timing isn't coincidental. Standard Chartered has been aggressively building its digital assets infrastructure, launching institutional trading platforms and custody services while most traditional banks were still sitting on the sidelines. The London and Hong Kong-listed bank now offers everything from tokenized products to blockchain settlement services.
But Winters isn't just talking theory. The bank is putting serious money behind the prediction, partnering with blockchain VC firm Animoca Brands and telecom company HKT to launch a Hong Kong dollar-backed stablecoin under the city's new regulatory framework that launched in August.
"Hong Kong dollar stablecoins can represent an interesting new medium of exchange for international trade on digital terms," Winters explained, crediting the city's leadership on crypto regulation alongside Financial Secretary Paul Chan.
Hong Kong's aggressive push to become a regional crypto hub is paying off. The city launched tokenization pilots where Standard Chartered completed its first HKD blockchain settlement - a proof of concept that traditional banking infrastructure can seamlessly integrate with distributed ledgers.
