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 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.
Source: https://cryptobriefing.com/wells-fargo-wfusd-stablecoin/
