The lender will begin offering tokenised deposits for selected US dollar (US$) to British pound (GBP/sterling) transactions later this year with expansion across currencies and countries scheduled through 2027.
US banking major Wells Fargo has announced the introduction of tokenised deposits, a blockchain-based representation of commercial bank money intended to enable corporate and commercial clients to move and settle funds on a 24/7/365 basis while remaining within the regulated banking system. The capability is designed to support faster movement of funds between accounts and across borders The company said the offering will initially be introduced this autumn for a limited set of