Wells Fargo is set to launch tokenized deposits for its corporate and commercial clients this fall, according to the Wall Street Journal. The offering will initially support US dollar and British pound deposits for cross-border transactions. The platform will allow customers to transfer, program and settle funds continuously through digital representations of traditional bank deposits. The bank plans to broaden the service to additional currencies and markets in 2027. This move follows similar blockchain adoption efforts by major lenders including JPMorgan Chase and Citigroup.
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