Wells Fargo files “WFUSD” trademark, signaling launch of dollar-backed stablecoin

Wells Fargo has filed a trademark application for “WFUSD,” signaling the bank’s plans to enter the growing stablecoin market, according to a March 10 submission to the US Patent and Trademark Office (USPTO).

The filing covers software, blockchain platforms, and financial services for digital payments, crypto trading and staking, wallets, tokenization, and smart contracts.

The WFUSD trademark filing comes after reports last May that entities co-owned by JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and other leading US banks were exploring a collaborative stablecoin initiative designed to compete with rapidly growing digital asset platforms.

JPMorgan has already launched JPMD, a US dollar deposit token for institutional clients that allows 24/7 blockchain settlements on networks like Coinbase’s Base. The token represents bank deposits, earns interest, and supports on-chain payments, but remains permissioned, available only to approved institutions rather than retail users.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

Source link