Wells Fargo & Company  announced the introduction of tokenized deposits, a blockchain-based representation of commercial bank money that when fully deployed will enable Wells Fargo’s corporate and commercial clients to move, program, and settle funds 24/7/365 — without leaving the regulated, insured banking system. The program will roll out this fall with a limited U.S. dollar (USD) to British pound (GBP) exchange and will expand over the course of 2027 to more clients, countries, and currencies.

“Tokenized deposits will enable Wells Fargo's corporate and commercial clients to move money between accounts and across borders with greater ease and increased speed and builds on the strength of our established banking infrastructure,” said Wells Fargo CFO Mike Santomassimo. “Launching tokenized deposits is an important step forward as we expand payment options, including on-chain solutions, for our corporate and commercial clients, who will be able to take advantage of this capability without experiencing any change to how they interface with Wells Fargo.”

What it means for Wells Fargo Corporate and Commercial Clients:

Wells Fargo’s tokenized deposits solution will be integrated into our existing offering and automatically route payments through tokenized deposits when they can improve speed, timing, and flexibility, delivering a more seamless client experience. Future enhancements will be designed to deliver measurable operational value:

• Always-on settlement: Wells Fargo clients will be able to move funds between accounts, subsidiaries, or counterparties 24/7, including weekends and holidays — no more waiting on batch cutoffs or wire windows.
• Programmability: The ability to set conditional payments with Wells Fargo smart contracts, which will allow the release of funds based on predefined logic.
• The same Wells Fargo client protections: Wells Fargo’s tokenized deposits will carry the same regulatory protections and deposit insurance eligibility as Wells Fargo's existing deposit products.

Wells Fargo’s tokenized deposits capability leverages its leading proprietary blockchain platform, which can support in-house custodial wallets and the bank’s inter-chain connectivity technology in future offerings.

Wells Fargo’s tokenized deposits solution will be introduced this fall for select participating corporate and commercial clients for USD to GBP transactions, with a broader rollout planned throughout 2027 including availability for all eligible clients and additional currencies.