Wells Fargo will launch tokenized deposits for corporate clients this fall, starting with US dollar-to-pound transactions. The move has won support from blockchain infrastructure advocates, while critics argue that banks are using distributed ledgers where conventional databases may work better. Cosmos Labs Backs Wells Fargo’s 24/7 Blockchain Payment Push Wells Fargo is preparing to move […]
Wells Fargo plans to launch tokenized deposits this fall, allowing corporate and commercial clients to move and settle funds outside traditional banking hours. Wells Fargo tokenized deposits will support 24/7 settlement Per an Aug. 4 WSJ report, Wells Fargo said…
The bank will start with a limited U.S. dollar-to-British pound corridor and widen it through 2027. It names neither the blockchain it is using nor whether the ledger is permissioned.
Wells Fargo's tokenized deposits could accelerate the adoption of blockchain in banking, enhancing efficiency and global transaction fluidity.
