Standard Chartered's tokenised deposit volume hits $11bn monthly run rate

Standard Chartered‘s chief executive Bill Winters disclosed during the bank’s second-quarter earnings call that its tokenised deposit activity has reached approximately $11 billion in monthly volume, driven principally by e-CNY cross-border settlements on the mBridge platform and multicurrency client work. The figure positions the bank as one of the highest-volume tokenised deposit operators among globally systemically important institutions.

Winters also noted that Standard Chartered handles around 20% of USDC on- and off-ramp flow, underscoring the bank’s integration into the stablecoin liquidity stack rather than merely operating at its edges. The bank has built this footprint across several entities: Zodia Custody, established in 2020, and Zodia Markets, established in 2021, alongside Anchorpoint Financial, which holds one of the two inaugural Hong Kong dollar stablecoin licences. Anchorpoint’s participant group includes Hong Kong Telecom and Animoca Brands.

Winters described a three-part digital strategy: positioning blockchain as settlement and issuance infrastructure for clients; providing banking, payments, liquidity, and risk management services to digital asset firms; and offering custody and transaction services to clients with existing digital asset exposure. The framing suggests the bank is less interested in a single product bet and more focused on capturing flow across every layer of institutional digital asset activity, from infrastructure to end-client services.