Standard Chartered’s CEO Envisions All Transactions on Blockchains, All Funds to be Digital During Hong Kong FinTech Week

“Nearly all transactions will ultimately be conducted on blockchains, and all currency will transition to digital,” stated Standard Chartered CEO Bill Winters. He forecasted a “total transformation of the financial system” during his remarks at Hong Kong FinTech Week. “Consider the implications – a total transformation of the financial system,” he noted. “However, we’re not certain yet how that will unfold.”

Recently, Standard Chartered’s spot crypto trading service reached full implementation. The bank has become the pioneering G-SIB (Globally Systemically Important Bank) providing its institutional clients regulated direct access to spot trading for Bitcoin (BTC) and Ether (Ethereum).

StanChart CEO Bill Winters on stage declaring “future money will be digital”. Happening right now at HK FinTech Week pic.twitter.com/Rsu9kgd9tJ

— Alan Lau (@alanlau999) November 3, 2025

Launched in July 2025, the service integrates with Standard Chartered’s existing trading systems, enabling the trading platform of Bitcoin and ETH through familiar Foreign Trading network interfaces. Moreover, clients have the choice to settle with a custodian of their preference, including the bank’s proprietary custody services. Rene Michau, Global Head of Digital Assets, indicated that while the service currently operates within Asian and European trading hours, continuous access is being evaluated based on client interest.

In the same context, HSBC CEO Georges Elhedery concurred with Winters. He expanded the discussion by emphasizing the significance and advancement of AI. “This has been a revelation,” Elhedery remarked, discussing the AI strategy of China and Hong Kong in comparison to the US, highlighted by the “DeepSeek moment.”

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Hong Kong Opens Crypto Exchanges To Global Liquidity Via Shared Order Books

Hong Kong will permit licensed crypto exchanges to link with global order books, effectively dismantling the city’s closed-loop model.

Introduced at Hong Kong FinTech Week, the Securities and Futures Commission (SFC) stated that this adjustment is part of broader actions to harmonize the digital asset trading market structure with traditional finance.

SFC CEO Julia Leung remarked, “Advancing market liquidity and business offerings is essential for maintaining the growth momentum of Hong Kong’s digital asset ecosystem.”

She also mentioned, “Today, we mark a major milestone in connecting to global available volume, demonstrating our commitment to achieving a balance between promoting trading market innovation and vibrancy while ensuring robust investor safety and trading market integrity.”

HONG KONG JUST ANNOUNCED INITIATIVES TO FACILITATE #BITCOIN AND CRYPTO TRADING

CHINA IS COMING!! pic.twitter.com/oG1VkFt4w5

— Vivek Sen (@Vivek4real_) November 3, 2025

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Hong Kong SFC Delivers Good Announcement For HKD-Backed Stablecoins

Regarding stablecoins, the SFC announced that it will permit Protocol Operators to trade virtual assets without requiring a 12-month track ledger for professional investors and for stablecoins sanctioned by the Hong Kong Monetary Authority, in addition to distributing tokenized securities and investment products linked to digital assets.

“Furthermore, associated entities of Network Operators can offer custody services for virtual assets or tokenized securities that are not traded on their platforms,” the SFC confirmed.

Users on X are questioning, “Is China testing the waters through Hong Kong?”

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