Standard Chartered CEO believes nearly all global transactions will move to the blockchain 'eventually'

Bill Winters, CEO of Standard Chartered, foresees a aboriginal successful which astir each planetary transactions are conducted connected a integer blockchain ledger, helium told a assemblage successful Hong Kong connected Monday, arsenic crypto adoption amongst mainstream banking and concern institutions grows. 

"Our belief, which I deliberation is shared by the enactment of Hong Kong, is that beauteous overmuch each transactions volition settee connected blockchains eventually, and that each wealth volition beryllium digital," the UK-based multinational bank's CEO said during a sheet astatine Hong Kong FinTech Week. 

"Think astir what that means: a implicit rewiring of the fiscal system," helium said, adding that experimentation is required to find what that rewiring looks like. 

Standard Chartered — which is listed successful some London and Hong Kong — has been ramping up its engagement with integer assets successful caller years, including done integer plus custody services, trading platforms, and tokenized products. 

Winters made the comments portion discussing Hong Kong's relation successful the planetary integer assets space, crediting the metropolis for enactment connected experimentation and regulation, alongside Hong Kong Financial Secretary Paul Chan. 

Hong Kong has been moving to found itself arsenic a determination crypto hub done a integer plus licensing regime, arsenic good arsenic tokenization pilots successful which Standard Chartered is simply a participant.

A tokenized plus is simply a integer practice of a real-world asset, similar stocks, bonds, oregon commodities, that tin beryllium recorded and traded connected a blockchain oregon distributed ledger. Stablecoins, which are pegged to a currency, are often held up arsenic an aboriginal illustration of a tradable tokenized asset.

Standard Chartered, successful concern with blockchain task superior steadfast Animoca Brands and telecommunications company HKT, is planning to motorboat a Hong Kong dollar-backed stablecoin nether a caller regulatory model the metropolis launched successful August.

Winters said Monday helium believed that Hong Kong dollar stablecoins tin correspond an absorbing caller mean of speech for planetary commercialized connected integer terms.

Other planetary fintech leaders person besides made bullish predictions for tokenized assets successful caller months.

Robinhood Markets CEO Vlad Tenev said past period that tokenization was a "freight train," coming to astir large markets successful the adjacent 5 years.

Larry Fink, CEO of BlackRock, the world's largest wealth manager, said successful April that each plus from stocks to bonds to existent property tin beryllium tokenized successful what volition correspond a "revolution" for investing.