Dr. Steven Hu is the Head of Digital Assets, Trade and Working Capital at Standard Chartered. In this role, he spearheads the digital assets strategy for international businesses, driving strategic initiatives across cryptocurrencies, real-world assets (RWA), tokenised securities, and central bank digital currencies (CBDCs). Steven has been at the forefront of several industry digital assets initiatives aimed at supporting the real economy, including the issuance of asset-backed security tokens in Project Guardian with the Monetary Authority of Singapore and the use of decentralized finance (DeFi) tools for SME financing in Project Dynamo with the Bank for International Settlements Innovation Hub Hong Kong. He is also instrumental in driving Standard Chartered’s participation in e-CNY pilot in China.
In addition to his professional roles, Steven serves as a Professional Council Member at the Global Fintech Institute, an Advisory Council Member at the Global Digital Finance and a founding member of Digital Assets Association. He has participated in advisory and working committees for central banks, contributing to the design of wholesale and retail CBDCs.
Before joining Standard Chartered, Steven led the distributed ledger technology (DLT) program at HSBC liquidity and cash management business. Steven and his team invented HSBC’s award-winning on-chain payment solution, fulfilling payment needs in digital asset networks. His prior experience includes working with international banks, including BNP Paribas as well as technology companies driving the digital transformation agenda.
Steven earned his Ph.D. from the National University of Singapore. He holds multiple fintech and technology patents and has published journal articles, conference papers, and book chapters. A frequent speaker at international conferences on the future of money and assets, Steven recently published a book chapter titled "Central Bank Digital Currencies: Opportunities and Challenges in the Post-pandemic Era" and co-authored an industry whitepaper titled "Co-creating the Future Ecosystem of Banking with Central Bank Digital Currencies".
Workshop Room 2 (Level 3)
Decoding Digital Assets and Payments
The curation of content and speakers was wholly managed by DigiFT and does not reflect the views of the organisers or its staff.
Join us in this interactive roundtable that provides a behind-the-scenes look at how financial leaders and fintech pioneers are leveraging tokenisation to reshape financial systems.
The discussion will dissect the technological foundations of asset tokenisation and the pivotal role of regulatory frameworks, and examine significant milestones achieved across Asia and Europe. Through real-world examples, we will examine how challenges in the industry can be transformed into opportunities.
Discussion Areas
· Technological foundations: Dissect the technological innovation behind asset tokenisation and how it is revolutionising the financial landscape.
· Navigating complexities: From policy discussions to public-private partnerships, discuss what industry players are doing to explore the potential of tokenisation in diverse financial verticals including asset management and capital markets.
· Adoption and implications: Delve into how efforts by industry players are translating into wider receptiveness of tokenisation across Asia and Europe.
· Strategic Insights: Sharing of strategic insights and learning points in developing collaborative strategies for industry leaders and policymakers to shape the future of finance.
Roundtable Room 2 (Level 2)
Decoding Digital Assets and Payments
This roundtable continues Elevandi’s series on the progress of Project Guardian, a concerted effort between policymakers and the financial industry to foster responsible innovation in asset tokenisation while enhancing liquidity and efficiency of financial markets.
Forms of financial asset tokenisation are taking shape in capital markets, through platforms that facilitate the issuance of these tokens to those supporting secondary trading of tokenised securities. With tokenisation, these platforms are broadening investor access to private equity and private credit by making it more cost-efficient to fractionalise and offer such products. Furthermore, by simplifying the distribution and trading of such products digitally, platforms may improve the liquidity of these traditionally illiquid products.
In 2023, participating financial institutions in Project Guardian demonstrated the potential of asset tokenisation through different pilots across use cases, unlocking the potential of traditional finance (TradFi) through decentralised finance (DeFi). A summary outlining actionable insights was produced that highlighted the importance of international collaboration, responsible innovation, and a shift towards outcome-oriented approaches by taking tokenisation from concepts to commercialisation. Emphasising the need to prioritise commercial value over just technological allure, these discussions set the tone for the pivotal role of Project Guardian in shaping the financial landscape. Read the report here.
Looking ahead to 2024, the next phase of Project Guardian aims to accelerate institutional adoption and scalability for asset tokenisation, by unpacking how the industry can work together to fuel this acceleration. This roundtable is one of two roundtables held at the Point Zero Forum under the theme of Decoding Digital Assets and Payments that will discuss the latest developments and findings based on the milestones achieved under Project Guardian till date. This roundtable will focus on asset and wealth management.
Attendees who wish to familiarise themselves with the topic may refer to the linked reports.
- Guardian roundtable: Concepts to commercialisation
- Playback of Project Guardian – Unlocking TradFi with DeFi