Official Wells Fargo press release — tokenized deposits
SAN FRANCISCO — Wells Fargo announces tokenized deposits: blockchain representation of commercial bank money. When fully deployed: move/program/settle 24/7/365 inside regulated insured banking system.
Rollout
- This fall: limited USD–GBP for select corporate/commercial clients
- Through 2027: more clients, countries, currencies
- Same regulatory protections and deposit insurance eligibility as existing deposits (bank-stated)
- Programmability via Wells Fargo smart contracts (conditional payments)
- CFO Mike Santomassimo quoted