Wells Fargo CEO Charlie Scharf stated that the use cases for stablecoins in the United States remain unclear, while acknowledging that corporate clients are curious about tokenization but are not yet seeing significant benefits. The bank plans to begin a preliminary rollout of tokenized deposits for select corporate clients in fall 2026, starting with 24/7 cross-border payments between US dollars and British pounds. Wells Fargo has joined a consortium of 21 institutions, including Bank of America and Citi, aiming to issue a USD-denominated stablecoin in the first half of 2027. Industry estimates suggest that up to 30 to 35 percent of commercial deposits could shift toward digital assets.
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