Wells Fargo (NYSE:WFC) launched the preliminary stage of its Digital Cash project, becoming the underwriter for a dollar-pegged stablecoin. The banking giant, which in the past cut off the Bitfinex exchange from its service, holds a struct stance to crypto assets, believing they should also exist under conditions of banking supervision.
“As a result of the increasing digitization of banking services globally, we see a growing demand to further reduce friction regarding traditional borders,” Wells Fargo stated.
The new coin is scheduled for a launch in 2020, starting with a round of internal testing. Wells Fargo plans to ...