Wells Fargo moves toward crypto with WFUSD trademark filing
American banking giant Wells Fargo has filed a trademark application for WFUSD, covering a wide range of services related to cryptocurrencies and blockchain technologies. The document was submitted to the United States Patent and Trademark Office (USPTO) on Tuesday and is currently awaiting assignment to an examiner for review.
The application outlines potential services including cryptocurrency trading, digital asset exchange operations, and crypto payment processing, according to USPTO.
It also mentions brokerage services for cryptocurrency trading and electronic transfers of virtual currencies. The move highlights the growing interest of major banks in integrating digital assets into traditional financial infrastructure.
Plans include blockchain applications and crypto wallets
The application also covers software designed for working with blockchain ecosystems. The list includes tools for staking digital assets, accessing NFTs, managing crypto wallets, and executing digital asset transactions.
The document also describes the development of software capable of interacting with smart contracts and providing financial data to blockchain networks. In addition, it references blockchain-based data transfer technologies and authentication services. Such tools could be used in decentralized applications and Web3 infrastructure.
The bank is also exploring asset tokenization
Beyond trading services, Wells Fargo is considering software-as-a-service platforms that enable asset tokenization and blockchain transaction verification. The application also mentions services for conducting crypto payments and transferring virtual currencies between users. Particular attention is given to infrastructure for staking and digital asset management.
These technologies could be applied both in retail financial services and institutional solutions for large clients. Although filing a trademark does not guarantee a product launch, companies often use such applications to secure branding ahead of potential new services.
Banks increase interest in stablecoins
Wells Fargo’s application comes amid growing interest from banks in stablecoins and blockchain payments. In 2025, Wells Fargo, JPMorgan, Bank of America, and Citigroup discussed creating a joint stablecoin for the banking sector. At the same time, major financial firms have been actively testing their own digital assets.
Earlier this year, Fidelity Digital Assets introduced the Fidelity Digital Dollar (FIDD), a stablecoin backed 1:1 by the U.S. dollar and issued on the Ethereum blockchain. The increasing activity of traditional banks suggests that digital assets are becoming part of the long-term strategy of major financial institutions.
Recently we wrote that Wells Fargo is leaning on artificial intelligence as a bank-wide operational lever after the Federal Reserve lifted its $1.95 trillion asset cap last summer, according to comments from its AI chief in an interview with Business Insider.
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