The world of finance is on the verge of a major transformation. Bill Winters, CEO of Standard Chartered, declared at the Hong Kong FinTech Week 2025 that the era of cash is coming to an end — and that all money will soon exist in digital form.

“All transactions will eventually be settled on the Blockchain, and all money will be digital,” Winters said. He emphasized that this isn’t just a passing trend but a “complete reprogramming of the financial system.”

Blockchain as the new infrastructure of finance

Winters noted that even major banks don’t yet know what the future system will look like — but experimentation is essential. Hong Kong, he said, plays a key role in balancing innovation with regulation.

“Hong Kong has already proven itself as a leader in this space,” Winters stated. “And I have every reason to believe it will continue to do so.”

HSBC invests billions in regional growth

Also speaking on the panel was Georges Elhedery, CEO of HSBC Group, who described Hong Kong as a hub with immense potential for both financial and technological innovation.

Elhedery highlighted HSBC’s $13.6 billion proposal to privatize Hang Seng Bank, calling it a vote of confidence in the region’s future.

“This demonstrates how strongly we believe in Hong Kong’s financial and technological ecosystem,” he said. HSBC is investing not only in infrastructure but also in education and research. The bank, for example, collaborates with the Hong Kong University of Science and Technology to help train a new generation of innovators shaping the financial transformation.

Hong Kong’s Financial Secretary, Paul Chan Mo-po, also joined the discussion, emphasizing the city’s strategic role as a global financial center and gateway to mainland China.

A digital future is inevitable

Remarks from the Hong Kong FinTech conference make it clear that the future of finance will be inseparable from the Blockchain. Both Standard Chartered and HSBC believe that the transition to digital money and decentralized infrastructure will rewrite the rules of banking.

While the end of cash may still sound like a distant vision, banks are already heavily investing in technology, education, and innovation to accelerate this shift. Hong Kong remains not only a global financial player but also a laboratory for the digital financial world of the future.

Sources:

https://www.youtube.com/watch?v=DnZcXqyYOl8

https://cointelegraph.com/news/standard-chartered-ceo-all-money-will-be-digital-hong-kong-fintech-week-2025