Wells Fargo launches tokenized deposits, teams with BNY Galaxy on staking

WFC -1.53% GLXY -3.39%

1. 1Wells Fargo (WFC) introduced tokenized deposits for corporates, while Bank of New York Mellon (BNY) partnered with Galaxy Digital (GLXY) on staking.
2. 2Wells Fargo will start with a dollar-pound pair this fall and expand by 2027, and BNY's staking offering is subject to regulatory review.
3. 3Both announcements show banks moving beyond simple crypto custody into on-chain payments and yield infrastructure.

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