Wells Fargo is developing a tokenized deposit engine using the Cosmos blockchain protocol. The bank is part of a consortium with JPMorgan Chase, Bank of America and Citigroup to build a tokenized deposit network scheduled for the first half of 2027. Wells Fargo has also filed the WFUSD trademark covering digital asset tokenization and payments. The bank is additionally participating in a Swift pilot program with 17 global banks for cross-border transfers. Tokenized deposits enable banks to offer the speed and programmability of crypto-native payment systems while keeping customers within the regulated banking perimeter.
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