The bank plans to begin with U.S. dollar and British pound transactions for select business and commercial clients, with broader customer and currency expansion targeted for 2027.
Wells Fargo plans to launch tokenized deposits for select business and commercial clients in fall 2026, initially supporting U.S. dollar and British pound transactions before expanding to more customers and currencies in 2027. The deposits would remain liabilities of the bank, but use blockchain infrastructure to enable continuous transfers, programmable payments, faster settlement and greater transaction visibility. The move places Wells Fargo alongside JPMorgan and other large financial institutions developing blockchain-based payment products and shared networks for institutional users. The rollout also comes as stablecoins such as USDC continue to gain circulation and transaction volume across crypto markets, payment networks and tokenized finance platforms. Whether companies adopt tokenized deposits or stablecoins more broadly may depend on accounting treatment, regulatory rules and interoperability across networks.