The American bank Wells Fargo has applied for the trademark "WFUSD" in connection with cryptocurrencies and digital assets. The documents were filed with the US Patent and Trademark Office on January 15, 2025.
The registration includes cryptocurrency exchange services, digital payment and transfer processing, blockchain transaction verification, digital wallets, and distributed ledger technology settlements.
This will be one of the most significant forays by a traditional bank into the digital asset space for mass market customers.
Wells Fargo is following other major banks: JPMorgan launched JPM Coin in 2019-2021, Bank of America obtained patents for crypto storage, and Citigroup is developing digital asset custody services.
Analysts predict the launch of services in late 2025 or early 2026. Initially, the service will focus on Bitcoin and Ethereum, with subsequent expansion to other cryptocurrencies.