Wells Fargo to Pilot Internal Settlement Service Using Distributed Ledger Technology

From businesswire.com

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 ... (full story)