Wells Fargo to Launch 24/7 Tokenized Deposits This Fall | PiQ Markets
3 storiesCrypto & Digital AssetsTokenisation of real-world assets (RWA)DeFi (decentralised finance) protocolsInstitutional crypto adoption (BlackRock, Fidelity)
Wells Fargo to Launch 24/7 Tokenized Deposits This Fall
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IN SHORT
Wells Fargo is set to launch 24/7 tokenized deposits this fall, initially facilitating U.S. dollar to British pound transactions on its private blockchain for corporate clients. This move aims for faster settlement and broader expansion by 2027. Meanwhile, Dinari has begun offering tokenized U.S. stocks to eligible American investors through self-custody wallets, supporting 724 stocks including all S&P 500 companies, traded with USDC. This development intensifies competition in the tokenized equity market, where Bitget has been identified by DeFiLlama as the leader in liquidity and execution quality, as the market nears $2 billion in value.
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Key facts
Wells Fargo will launch tokenized deposits this fall.
The initial service will support 24/7 U.S. dollar to British pound transactions.
Wells Fargo's service will operate on its proprietary blockchain.
Broader expansion of Wells Fargo's service is planned for 2027.
Dinari is offering tokenized U.S. stocks to eligible American investors.
Dinari's platform supports 724 tokenized stocks, including all S&P 500 companies.
Dinari's tokenized stocks are traded with USDC.
Bitget is recognized as a leader in tokenized equities liquidity and execution quality.
The tokenized equity market is nearing $2 billion in value.
DeFiLlama produced a report on tokenized equities liquidity.
Wells Fargo is preparing to introduce tokenized deposits later this year, a service that will initially support round-the-clock transactions between U.S. dollars and British pounds on its proprietary blockchain. This initiative is designed to provide corporate clients with faster and more flexible fund settlement options. The bank plans a broader expansion of this service by 2027.
In parallel, Dinari has launched tokenized U.S. stocks, making them available to eligible American investors. These tokenized equities can be accessed via self-custody crypto wallets. The platform currently supports 724 tokenized stocks, encompassing all companies within the S&P 500 index, with all trades conducted using USDC. This offering escalates competition within the rapidly growing tokenized equity market.
Further highlighting the activity in this sector, crypto exchange Bitget has been identified as the leader in liquidity and execution quality for tokenized equities by DeFiLlama. The report indicates that Bitget offers a superior trading experience, characterized by the narrowest median bid-ask spread and the deepest liquidity at the top of the order book. This comes as the overall market for tokenized equities is approaching a valuation of $2 billion.
↳ Why This Matters
Wells Fargo is preparing to introduce tokenized deposits later this year, a service that will initially support round-the-clock transactions between U.S. dollars and British pounds on its proprietary blockchain. This initiative is designed to provide corporate clients with faster and more flexible fund settlement options. The bank plans a broader expansion of this service by 2027.
Frequently asked questions
Tokenized deposits are digital representations of traditional fiat currency deposits held by a bank, recorded on a blockchain or distributed ledger technology, enabling faster and more flexible settlement.
Wells Fargo plans to roll out its tokenized deposit program this fall.
The initial launch will support U.S. dollar to British pound transactions.
JPMorgan, Citigroup, and BlackRock are also actively involved in tokenization initiatives.
What Happens Next
01Wells Fargo to expand tokenized deposit services to more clients, countries, and currencies throughout 2027.
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