Wells Fargo makes it official: Big banks are getting in on cryptocurrency Wells Fargo just announced it willlauncha US dollar-linked stablecoin, making it the latest financial titan to get in on cryptocurrency. Now, a cyberpunk concept has really gone corporate Wells Fargo Digital Cash -- the very creative name for Old Man Fargo’s tokenized dollars -- will launch next year. Wells Fargo’s proprietary digital ledger tech (DLT) will allow users to move money internally across the firm’s global network in “near real-time.” Wells Fargo isn’t the only big bank digging the digidollar. JPMorgan launched JPM Coin earlier this year... and it’s likely other banks will follow suit with tokens and networks of their own. So… why go crypto? In its early days, the unregulated nature of cryptocurrency networks created concerns that it would enable tax evasion, money laundering, and other darknet activities (talk about naughty bits). But banks are discovering that blockchain-based technologies allow instantaneous payment transfers. And in an increasingly global economy, this is especially attractive because businesses can move funds outside of normal operating hours while cutting the time and costs associated with such transactions and eliminating the need for middlemen.
%% Looks like a good combo; for the trail lawyers against WFC. LOL.Maybe they could, instead of throwing in a toaster, as banks used to do ; throw in some TSLA parts. TSLA had so much trouble getting those to dealers LOL...................................................................
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