Banks Bet Big on Blockchain Payments, Staking, and Yield Infrastructure

Wells Fargo has introduced tokenized deposits for corporate clients, enabling on-chain payments and settlements around the clock. The program will start in the fall with a limited US dollar to British pound exchange, expanding to more clients, countries, and currencies through 2027.

'Launching tokenized deposits is an important step forward as we expand payment options, including on-chain solutions, for our corporate and commercial clients,' said Chief Financial Officer Mike Santomassimo.

Meanwhile, Bank of New York Mellon Corporation (BNY) has partnered with Galaxy Digital to bring staking to its digital asset custody platform. This move shows how major banks are moving beyond crypto custody into blockchain-based payments and financial infrastructure.