Wells Fargo Moves Into Crypto With Its Own Stablecoin

Wells Fargo, one of America's largest banks, has filed a trademark for a stablecoin called WFUSD. A stablecoin is a cryptocurrency designed to maintain a steady price, usually tied to the US dollar. By creating its own stablecoin, Wells Fargo is signaling that it plans to integrate cryptocurrency more deeply into its banking services. This represents a major shift as traditional banks historically viewed crypto with skepticism. The trademark filing suggests the bank is preparing infrastructure to offer crypto services to its customers.