American financial services company Wells Fargo & Company (NYSE:WFC) is planning to launch a pilot of a distributed ledger technology (DLT)-based internal settlement service in 2020.
In a Sept. 17 press release, Wells Fargo described a DLT-based platform designed to perform internal book transfers of international payments within its global network using digitized cash. The company claimed that it has already successfully tested the concept of money transfers between the United States and Canada.