Search for fiat alternative ‘perfectly reasonable,’ says StanChart CEO

Search for fiat alternative ‘perfectly reasonable,’ says StanChart CEO

Bitcoin (BTC) and other cryptocurrencies have a permanent role in financial markets, but other digital assets like central bank digital currencies (CBDCs) or nonfungible tokens (NFTs) could likely outperform crypto, according to Standard Chartered CEO Bill Winters

Speaking at a Standard Chartered conference call, Winters echoed the “crypto is here to stay” narrative and said there’s a role for non-fiat currencies given the concerns about inflation.

“Broadly, we’ve gone through a long period of low inflation, and we’ve got central banks experimenting in uncharted territory with very, very loose monetary policy,” Winters said, adding:

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“It’s perfectly reasonable for people to want an alternative to fiat currency.”

While the debate over fully decentralized cryptocurrencies are more beneficial than administered crypto continues, Winters believes the market will have the final say.

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