Wells Fargo (NYSE: WFC) is preparing to introduce tokenized deposits for its corporate and commercial customers later this year, marking another major bank’s move into blockchain technology for payments and settlements. Tokenized deposits are digital representations of conventional commercial bank money recorded on a blockchain. He noted that tokenized deposits will enable clients to move money between accounts and across borders with greater ease and speed, building on the bank’s established infrastructure. This development places Wells Fargo alongside peers such as JPMorgan Chase and Citigroup, which already offer institutional tokenized deposit services. The tokenized deposits program reflects a broader industry shift toward leveraging distributed ledger technology for operational advantages in treasury management, cross-border payments, and liquidity handling.