The CEO of Standard Chartered Bank has boldly declared that all financial transactions will be conducted using blockchain technology in the future. This prediction aligns with the bank’s initiatives focusing on digital asset custody services, central bank digital currencies (CBDC), and tokenization, which are aimed at expanding digital financial infrastructure in Asia and the Middle East. This shift toward a digitized financial world is gaining momentum, not just among tech companies but also prominent banks, driving this transition from vision to reality.
Standard Chartered’s commitment to blockchain technology underscores its belief that this innovation will reshape global finance. Experts believe that such pronouncements by major banks solidify the legitimacy of blockchain-based financial systems, prompting traditional financial institutions to adapt and play a crucial role in this shift towards a more digital future.