Standard Chartered’s CEO Bill Winters revealed that the bank’s tokenized deposit volumes have reached around $11 billion in monthly run rate, “primarily from the e-CNY cross-border settlements on mBridge and our multicurrency work with various clients,” he said during the bank’s Q2 earnings call.
The bank has been among the most forward leaning of systemically important institutions, having set up Zodia Custody and Zodia Markets in 2020 and 2021 respectively. Its subsidiary, Anchorpoint Financial, was awarded one of the two initial licenses to issue a Hong Kong dollar stablecoin. Other Anchorpoint participants include Hong Kong Telecom (HKT) and web3 firm Animoca Brands.
During the call, Winters outlined a three pronged digital strategy. The first positions blockchain as infrastructure, enabling clients to connect, issue and settle. Second is servicing digital asset firms, including banking, payments, liquidity and risk management services. Finally, there is providing services to clients who are engaging with digital assets, whether that involves custody or transacting.
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