POPA ReconWells Fargo Launches Tokenized Deposits for Corporate Clients
Wells Fargo Launches Tokenized Deposits for Corporate Clients Wells Fargo will roll out tokenized deposits for select corporate and commercial clients later this year, beginning with 24/7 U.S. dollar-to-British pound settlements on its proprietary blockchain. Unlike stablecoins, the tokenized deposits represent traditional bank balances onchain while maintaining the same regulatory protections and deposit insurance eligibility as conventional deposits. The bank plans to introduce programmable payments through smart contracts and expand support to additional clients, countries, and currencies…
The excerpt is quoted from a public Telegram channel, which owns its text.