Standard Chartered's Global Head of Commercial Platforms and Strategic Partnerships, Gaurav Taneja, has stated that many traditional banking operations are expected to transition to new technologies, with distributed ledger and blockchain technologies poised to replace much of the existing financial market infrastructure. Taneja emphasized the risk of obsolescence for those who do not adapt to these changes. The bank is actively exploring opportunities in tokenized deposits, stablecoins, and central bank digital currencies (CBDCs) as part of its strategic initiatives to embrace these emerging technologies.