Wells Fargo Unveils 24/7 Tokenized Payments for Corporate Clients
Wells Fargo has launched a new service for its corporate clients that allows them to make tokenized payments 24/7. The move is part of the bank's efforts to increase efficiency and reduce costs in cross-border transactions.
The service, which uses cryptocurrency technology, enables companies to send and receive international payments in real-time. According to Wells Fargo, this will help clients save time and money by eliminating the need for intermediaries and reducing the risk of errors.
The bank has been working on developing this service since 2015 and has already started rolling it out to select clients. While the exact number of clients using the service is not disclosed, Wells Fargo expects it to become a mainstream offering in the coming months.