Wells Fargo to Pilot Internal Settlement Service Using Distributed Ledger Technology
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Business Wire
Wells Fargo Digital Cash will drive operational efficiencies, including longer operating windows and real-time processing SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) today announced plans to pilot an internal settlement service, Wells Fargo Digital Cash, which will run on Wells Fargo’s first distributed ledger technology (DLT) platform.Wells Fargo Digital Cash will allow Wells Fargo to complete internal book transfers of cross-border payments within its global network using digitized cash — and for those international locations to exchange that digitized cash among themselves. To date, Wells Fargo has successfully proven the concept of moving value between the U.S. and Canada. The internal DLT network will be a reusable enterprise utility for Wells Fargo to build and deploy multiple DLT-based applications.“As a result of the increasing digitization of banking services globally, we see a growing demand to further reduce friction regarding traditional borders, a
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WFC
Earnings
- 4/12/24 - Beat
WFC
Sec Filings
- 4/17/24 - Form 424B2
- 4/17/24 - Form PX14A6G
- 4/16/24 - Form 3
- WFC's page on the SEC website