Standard Chartered CEO Predicts the End of Cash, Saying ‘All Money Will Be Digital’

Standard Chartered CEO Bill Winters says “all money will be digital.” He believes blockchain technology will reshape global finance. Hong Kong, he adds, is leading the way in making that vision real.

Standard Chartered Group (SCBFF) CEO Bill Winters has made one of the boldest forecasts yet for the future of money. Speaking at Hong Kong FinTech Week 2025, he declared that the world is heading for a blockchain-powered era where physical cash disappears entirely.

“All transactions will settle on blockchains eventually, and all money will be digital,” Winters said, calling the change a “complete rewiring of the financial system.”

He added that while there is a clear vision of where finance is heading, no one yet knows precisely how that transformation will unfold. “Because of this, experimentation is necessary, and Hong Kong excels in this area,” Winters said. He credited Hong Kong regulators for managing to “strike a balance between experimentation and compliance,” encouraging innovation while maintaining safeguards.

“Hong Kong has already established that leading role,” he said. “I have every reason to believe it will continue to play that role.”

Hong Kong Strengthens Its Role as a Fintech Hub

Winters’ comments reflect a growing consensus among global banking leaders that Hong Kong is becoming a testing ground for the next phase of financial innovation. The city’s regulatory structure allows traditional banks and fintech firms to experiment with tokenization, payments, and digital assets under a framework that preserves trust and oversight.

For Standard Chartered, this environment is essential. The bank has been actively developing blockchain-based settlement systems and exploring partnerships that bridge traditional finance with the digital asset economy. Winters’ remarks signal that these efforts will accelerate as the banking industry prepares for a fully digital money future.

HSBC Shows Confidence in Hong Kong’s Future

Adding to the optimism, HSBC Group (HSBC) CEO Georges Elhedery highlighted the city’s long-term potential. He pointed to HSBC’s $13.6 billion investment proposal to privatize Hang Seng Bank as a vote of confidence in Hong Kong’s financial ecosystem.

“This summarizes how much confidence and conviction we have in the outlook for Hong Kong’s financial and technology innovation,” Elhedery said.

Elhedery also emphasized the bank’s investments in education and research, including its collaboration with the Hong Kong University of Science and Technology to nurture the next generation of innovators who will drive financial transformation.

Hong Kong Leverages Its Ties to Mainland China

Paul Chan Mo-po, Hong Kong’s financial secretary, joined the discussion by highlighting the city’s unique advantage as China’s financial gateway. When asked if Hong Kong could overtake Switzerland as the world’s top cross-border wealth management hub, he said the city’s foundation is already strong.

“We have a wonderful ecosystem — excellent products, professional services,” Chan said. “On the other hand, the mainland is our backing. It has a huge population and wealth, so we are very confident.”

To sum up, its evident that digital finance is no longer theoretical. Leaders like Winters believe that the shift is inevitable, with blockchain serving as the foundation for a “complete rewiring” of how money moves and value is exchanged.

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