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Wells Fargo joins JPMorgan and Citi in the race to tokenize Wall Street’s settlement rails

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Francisco Rodrigues
Wells Fargo joins JPMorgan and Citi in the race to tokenize Wall Street’s settlement rails
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Wells Fargo has launched a tokenized deposit platform to enable 24/7/365 programmable payments and faster settlement for institutional clients. The system, which integrates with existing banking infrastructure, positions the bank to compete with JPMorgan and Citi in the emerging market for blockchain-based financial rails.

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The bank frames round-the-clock settlement, programmable payments and parity with its existing deposit protections as future enhancements, saying the system will let clients move, program and settle funds 24/7/365 "when fully deployed."

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Wells Fargo joins JPMorgan and Citi in the race to tokenize Wall Street’s settlement rails — Headlinne — headlinne