Odaily reported on Aug. 6, 2026 that Wells Fargo will introduce tokenized deposit services for corporate clients this fall. In the initial phase, the service will support transactions between US dollars and British pounds. It will integrate with the bank's existing payment platform, and for eligible transactions, the system will automatically switch to tokenized deposits when there is room to improve speed, timing, or flexibility. Wells Fargo said the new system enables around-the-clock transfers, including weekends and holidays, with no interruption to service. The bank also plans to roll out programmable payments that release funds once preset conditions are met. Deposits will remain liabilities of the bank and will carry the same regulatory protections and deposit insurance eligibility as traditional products. Cosmos Labs co-CEO Magmar said the blockchain used by Wells Fargo is built on Cosmos technology. The bank intends to broaden the service in 2027, adding more clients, countries, and currencies.
Wells Fargo is set to launch tokenized deposit services for corporate clients this fall, with the first phase covering US dollar-to-pound transactions.
The offering will tie into the bank's existing payment platform. For eligible transactions, the system will automatically deploy tokenized deposits whenever there is an opportunity to gain speed, timing efficiency, or flexibility.
According to Wells Fargo, the service will support 24/7 transfers, including weekends and holidays. Programmable payments are also in the pipeline, which would release funds once preset conditions are met. The deposits themselves remain bank liabilities, and they preserve the regulatory protections and deposit insurance coverage attached to conventional products.
Cosmos Labs co-CEO Magmar said the blockchain behind the move is built on Cosmos technology. Wells Fargo has said it plans to widen the service by 2027, reaching more customers, countries, and currencies.
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