Wells Fargo to Launch Tokenized Deposit Service for Corporate Clients Later This Year

Wells Fargo plans to offer tokenized deposits to corporate clients later this year, starting with 24/7 USD-GBP transactions on its proprietary blockchain, with broader expansion targeted for 2027.

Woofun AI reports that Wells Fargo intends to introduce tokenized deposit services for select corporate and business clients later this year. The initiative will commence with round-the-clock USD-to-GBP transactions on the bank’s proprietary blockchain, offering programmable payments and settlement capabilities equivalent to existing deposit safeguards.

The service will initially launch on a limited scale, with plans to expand to additional clients, countries, and currencies by 2027. The platform supports internal custodial wallets and interoperability with other blockchains, aiming to enable 24/7/365 fund transfers and settlements once fully deployed.