Standard Chartered CEO Sees Hong Kong Stablecoin as Pivotal For International Trade Settlement

Standard Chartered CEO Bill Winters stated at Hong Kong FinTech Week that the city's ongoing digital asset pilots, particularly the development of Hong Kong dollar-backed stablecoins and tokenized deposits, could revolutionize international trade settlement. Winters views these innovations as creating a crucial medium of exchange for global commerce, smoothing the transition to a fully digital international trading order. His comments coincide with the Hong Kong Monetary Authority (HKMA) stablecoin issuer sandbox, in which Standard Chartered's Hong Kong unit is participating. Furthermore, the Securities and Futures Commission (SFC) announced new rules allowing locally-licensed crypto exchanges to access global liquidity through shared order books to improve market efficiency, provided they adhere to strict risk management protocols like pre-funding and delivery-versus-payment settlement.

(Source：CoinDesk)