Standard Chartered CEO: Soon All Transactions Will Be on Blockchain
Currency exchange and payments will eventually move to distributed ledgers (blockchain) to enable instant settlements and reduce counterparty risks, predicted Bill Winters, CEO of Standard Chartered. He believes that combining traditional finance with blockchain technology will accelerate cross-border money movement and simplify financial contract settlements.
Winters acknowledged that blockchain capabilities are fundamentally reshaping the global financial system, with digital assets becoming increasingly integrated into traditional banking services. According to him, the financial industry is undergoing a “complete transformation,” as many banks are experimenting with blockchain to avoid being displaced by DeFi projects.
He also praised Hong Kong authorities for their efforts to make the region a testing ground for tokenized finance development.
However, Winters cautioned that the transition to blockchain-based finance may face challenges, primarily due to differences in international regulatory standards for tokenized assets and stablecoins, which he believes should be harmonized.
Risk management systems are still evolving, and technical interoperability issues between public and private blockchains persist. Therefore, the banker concluded, blockchain adoption in traditional finance will be gradual.
According to Standard Chartered analysts, by 2028, the market for real-world asset tokenization (RWA) could exceed $2 trillion, with $750 billion coming from money market funds.
See also: "Matt Hougan: Why Solana Could Follow Bitcoin’s Path"
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