Standard Chartered Surpasses $11B Tokenized Deposits with Blockchain Driven Growth
Standard Chartered's tokenized deposit volumes have surpassed $11 billion per month. The bank's CEO, Bill Winters, revealed this during the Q2 earnings call. This growth is largely attributed to cross-border settlements using the e-CNY on mBridge and multicurrency work with clients.
The bank has been a pioneer in digital finance, setting up Zodia Custody and Zodia Markets in 2020 and 2021 respectively. Its subsidiary, Anchorpoint Financial, was one of the first to issue a Hong Kong dollar stablecoin under its license.
Winters outlined three key areas for Standard Chartered's digital strategy: positioning blockchain as infrastructure, servicing digital asset firms, and providing services to clients engaging with digital assets. This approach aims to leverage blockchain technology to enhance client offerings and expand the bank's digital footprint.