Standard Chartered CEO Bill Winters Backs HKD Stablecoins Push

At Hong Kong FinTech Week, Bill Winters, CEO of Standard Chartered, emphasized that Hong Kong's advancements in tokenized money and stablecoins could transform digital trade settlement. He specifically noted the potential impacts of HKD-backed stablecoins and tokenized deposits on enhancing cross-border trade. Winters highlighted that ongoing pilots in these areas could revolutionize commerce by providing an efficient medium of exchange for international transactions. Following recent regulations announced by the Securities and Futures Commission (SFC), which allows local exchanges to tap into global liquidity through shared order books, he expressed optimism about the future of digital assets in facilitating smoother global trading. Winters pointed out that although the digitized nature of trading flows isn't fully realized yet, innovations in Hong Kong, such as the issuance of stablecoins, mark significant steps toward a new digital trading order. Standard Chartered's initiative, alongside partners Animoca Brands and HKT, to issue an HKD-backed stablecoin under the new regulatory framework further underscores this momentum in the digital asset space.

Source 🔗