Standard Chartered CEO Bill Winters stated on Nov. 3 that he believes all global transactions will eventually settle on blockchains and all money will be digital. Winters made the comments during a panel discussion at Hong Kong FinTech Week.
Winters described the anticipated transition as a fundamental restructuring of the financial system, according to CNBC. However, he acknowledged that the industry does not know exactly how this transformation will occur and emphasized the need for continued experimentation.
Fundamental restructuring faces uncertain path
HSBC CEO Georges Elhedery joined Winters on the same panel and expressed optimism about Hong Kong’s fintech future. Winters praised Hong Kong’s leadership in digital asset regulation and its willingness to support blockchain experimentation. Other financial leaders, including the CEOs of BlackRock and Robinhood, have recently made similar predictions about the tokenization of traditional assets.
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