Standard Chartered CEO says that the search for fiat alternative is perfectly reasonable

Bill Winters, the Chief Executive Officer (CEO) of the financial services company Standard Chartered says that the Non Fungible Tokens (NFTs) and Central Bank Digital Currencies (CBDCs) could most likely outperform in the crypto world. 

During a Standard Chartered conference call, Winters said that BTC and other tokens have a permanent role in digital assets, but CBDCs will have a different impact. He added that “Crypto is here to stay”, along with adding that there is a strong need for non-fiat currencies as inflation increases.

Winters added, “Broadly, we’ve seen a long period of low inflation, and we’ve got central banks experimenting in uncharted territory with very loose monetary policy. It is totally reasonable to want an alternative to fiat currencies.”

He further added that the discussions on fully decentralized cryptocurrencies are more beneficial than that of crypto. He believes that the market will have the final say. 

Standard Chartered agrees with Thoma Bravo

Standard Chartered is well-known for its positive attitude towards cryptocurrencies, digital assets, and the technology behind them. In September, the bank joined the crypto and digital finance industry membership body Global Digital Finance (GDF) Patron board. The Winter’s bank will help to join hands with global regulators, lawmakers, and other industry members. It aims to advocate for digital assets as a member of Global Digital Finance.

According to a report published in June, the British bank reportedly plans to bring its own crypto exchange platform. Standard Chartered has partnered with Hong Kong exchange owner BC Technology Group for launching the exchange for U.K. and European markets.

Recently, Orlando Bravo, the billionaire, co-founder and managing partner of private equity firm Thoma Bravo expressed his positivity towards the crypto industry. He said that crypto is a frictionless, decentralized, and excellent system. He also added that the new generation wants their own financial system, and hence, “crypto is here to stay”, which Winters echoed in his recent speech.