Wells Fargo will roll out tokenized deposits for select corporate and commercial clients later this year, beginning with 24/7 U.S. dollar-to-British pound settlements on its proprietary blockchain.

Unlike stablecoins, the tokenized deposits represent traditional bank balances onchain while maintaining the same regulatory protections and deposit insurance eligibility as conventional deposits. The bank plans to introduce programmable payments through smart contracts and expand support to additional clients, countries, and currencies throughout 2027.

The platform will automatically route eligible transactions through tokenized deposits when they offer faster or more flexible settlement, without changing the client experience.

The move places Wells Fargo alongside JPMorgan and Citi in adopting tokenized deposit infrastructure as major banks accelerate efforts to modernize cross-border payments.