Standard Chartered CEO Predicts All Transactions On Blockchains, All Money Will Be Digital During Hong Kong FinTech Week

“Pretty much all transactions will settle on blockchains eventually, and that all money will be digital,” said Standard Chartered CEO Bill Winters. He predicted a “complete rewiring of the financial system” while speaking at the Hong Kong FinTech Week. “Think about what that means – a complete rewiring of the financial system,” he said. “But we don’t know exactly how.”

Notably, Standard Chartered’s spot crypto trading offering became fully realised recently. The bank became the first G-SIB (Globally Systemically Important Bank) to offer its institutional clients direct spot trading access to Bitcoin (BTC) and Ether (ETH) in a regulated manner.

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

— Alan Lau (@alanlau999) November 3, 2025

The service launched in July 2025 and integrates with Standard Chartered’s existing trading platforms, allowing for the trading of Bitcoin and Ethereum on familiar Foreign Exchange interfaces. Additionally, clients can settle with a custodian of their choice, including the bank’s in-house custody service offerings. Rene Michau, Global Head of Digital Assets, explained that while the offering is currently limited to Asian and European trading hours, 24/5 access is under consideration depending on client demand.

Meanwhile, HSBC CEO Georges Elhedery agreed with Winters. He furthered the conversation by insisting on the importance and development of AI. “This has been an eye opener,” Elhedery said, as he spoke about China and Hong Kong’s AI strategy, in contrast with the US, as evidenced by the “DeepSeek moment.”

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

Hong Kong will allow licensed crypto exchanges to connect with global order books. This will finally end the city’s closed-loop model.

Unveiled at Hong Kong FinTech Week, the Securities and Futures Commission (SFC) said that the change as part of a broader effort to align digital asset market structure with traditional finance.

SFC CEO Julia Leung said, “Making steady strides in market liquidity and business offerings is crucial to sustaining the growth momentum of Hong Kong’s digital asset ecosystem.”

She added, “Today, we take a significant step to connect with global liquidity, underscoring our commitment to striking a right balance in fostering market innovation and vitality while upholding high standards for investor protection and market integrity.”

HONG KONG JUST ANNOUNCED PLANS TO EASE #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 News For HKD-Backed Stablecoins

When it comes to stablecoins, the SFC said that it will allow Platform Operators to offer trading in virtual assets without a 12-month track record for professional investors and for Hong Kong Monetary Authority-licensed stablecoins, as well as distribute tokenised securities and digital asset-related investment products.

“Additionally, Platform Operators’ associated entities may provide custody services for virtual assets or tokenised securities not traded on their platforms,” the SFC said.

Observers on X are asking, “Is China testing the waters through Hong Kong?”

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Key Takeaways

Hong Kong’s decision to allow licensed exchanges to access global liquidity via shared order books is a pivotal structural shift. It aligns the city’s crypto market with mature market practices.

The SFC’s policy coincides with broader efforts to diversify Hong Kong’s product set, including permissions for licensed platforms to support digital securities and integrate more regulated stablecoin offerings for professional investors.

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