Standard Chartered has hosted its inaugural Digital Assets Summit in Accra, highlighting the growing role of digital currency, stablecoins and other forms of digital money in resha
The report indicates that standard Chartered has hosted its inaugural Digital Assets Summit in Accra, highlighting the growing role of digital currency, stablecoins and other forms of digital money in reshaping payments ecosystems across Africa and globally
It further notes that the bank stated accelerating adoption of digital assets is creating opportunities to improve the speed, cost and accessibility of cross-border transactions, while increasing the need for regulatory frameworks, risk management systems and trusted financial institutions to support the sector’s development.
Speaking at the Standard Chartered Digital Assets Summit in Accra, the bank’s Global Head of Digital Assets, Rene Michau, stated stablecoins are increasingly moving payments and savings activity outside traditional financial rails, creating opportunities to improve efficiency while raising the need for stronger regulatory oversight and risk management.
Mr. Michau stated Standard Chartered’s research estimates that the global stablecoin market, currently valued at roughly US$300 billion, could expand to about US$2 trillion by 2028. The bank also expects significant migration of deposits into stablecoins across emerging markets as businesses and consumers seek more efficient mechanisms for payments and savings.
“The most transformative trend for cross-border payments will be stablecoins and other forms of digital money,” Mr. Michau said, noting that existing infrastructure continues to create friction in intra-African trade and payments.
According to him, digital assets are no longer a niche segment of financial markets but are increasingly becoming part of the broader evolution of money. He argued that successful adoption will depend on balancing innovation with regulation, ensuring that new forms of money operate within trusted and well-supervised frameworks.
The comments come as regulators across Africa, including the Bank of Ghana and the Securities and Exchange Commission, continue developing frameworks for virtual asset service providers and broader digital asset activities. Policymakers are seeking to harness the benefits of innovation while safeguarding financial stability, consumer protection and anti-money laundering standards.
Standard Chartered executives at the summit positioned digital assets as the latest stage in a long history of changes in payment systems, following transitions from physical cash and cheques to electronic banking, card payments and mobile money.
Jojo Bannerman, Executive Director and Head of Markets at Standard Chartered Bank Ghana PLC, stated digital assets should be viewed primarily as a tool for improving payment efficiency rather than as a replacement for existing monetary systems.
“The existing regulations around payments and currency sovereignty remain in place,” Mr. Bannerman said. “Digital assets are an additional tool within the ecosystem.”
He pointed to cross-border trade as one of the most immediate use cases. A trader in Ghana, for example, could potentially make near real-time payments to suppliers in neighbouring countries without lengthy settlement periods, multiple currency conversions or the operational risks associated with carrying physical cash.
According to Mr.Bannerman, faster settlement could improve working capital management for businesses by reducing the need to hold idle foreign currency balances while transactions are processed.
“The whole concept of using digital assets is to drive efficiency in payments, ensure trust within the payment ecosystem and lower costs for end users,” he said.
Beyond payments, Standard Chartered also sees growing opportunities in the tokenisation of financial assets. Mr. Michau noted that tokenised money market funds and equities currently represent some of the largest segments of the tokenised asset market. However, he argued that broader growth will require digital representations of assets and money to develop simultaneously.
