We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
WFC launches tokenized deposits enabling real-time on-chain payments and settlements for corporate clients.
BNY partners with Galaxy Digital to add staking to its Digital Asset Custody platform, pending approval.
WFC and BNY expand blockchain services to address digital asset demand and support future growth prospects.
Wells Fargo & Company (WFC - Free Report) and The Bank of New York Mellon Corporation (BNY - Free Report) are expanding their digital assets capabilities as they move beyond their traditional crypto custody into blockchain-based financial services.
Wells Fargo has announced tokenized deposits for corporate clients to enable real-time on-chain payments and settlements, while BNY has partnered with Galaxy Digital (GLXY - Free Report) to add staking to its Digital Asset Custody platform. Although the initiatives target different areas of digital finance, they reflect a broader shift among large banks toward integrating blockchain technology into core financial services. As institutional demand for digital asset solutions continues to grow, both banks are expanding their service offerings to address evolving client needs and position themselves for long-term growth.
For Wells Fargo, the initiative is expected to enhance treasury management through programmable payments enabled by smart contracts, allowing funds to be released based on predefined conditions. The bank is also participating in a shared tokenized deposit network with JPMorgan, Bank of America and Citigroup through The Clearing House, aimed at enabling 24/7 blockchain-based payments, real-time liquidity management and cross-border settlements. The tokenized deposits solution retains the same regulatory protections and deposit insurance eligibility as the bank’s existing deposit products, allowing clients to benefit from blockchain-based functionality within the regulated banking system.
Meanwhile, BNY has partnered with Galaxy Digital to integrate staking into its Digital Asset Custody platform, combining custody and staking under a single institutional servicing model, subject to regulatory approval. Galaxy Digital will also serve as a design partner to enhance the bank’s blockchain infrastructure. The collaboration also builds on BNY's June 2026 partnership expansion with Circle Internet Group to support USDC on its Digital Asset Custody platform, reinforcing the bank's focus on institutional digital finance.
Although these initiatives are unlikely to materially affect near-term financial performance, they demonstrate the WFC and BNY’s commitment to evolving alongside changing market dynamics. Continued investment in innovative financial solutions could help strengthen customer relationships, broaden fee-generating opportunities, and support sustainable long-term growth as the financial services industry undergoes digital transformation.
Comparing Stock Performance: WFC vs. BNY
Over the past year, shares of Wells Fargo have risen 13.4%, significantly trailing the 55.8% increase recorded by BNY.
View the Zacks #1 Rank List
Image: Bigstock
Will Tokenized Deposits & Staking Boost WFC & BNY's Growth Prospects?
Key Takeaways
Wells Fargo & Company (WFC - Free Report) and The Bank of New York Mellon Corporation (BNY - Free Report) are expanding their digital assets capabilities as they move beyond their traditional crypto custody into blockchain-based financial services.
Wells Fargo has announced tokenized deposits for corporate clients to enable real-time on-chain payments and settlements, while BNY has partnered with Galaxy Digital (GLXY - Free Report) to add staking to its Digital Asset Custody platform. Although the initiatives target different areas of digital finance, they reflect a broader shift among large banks toward integrating blockchain technology into core financial services. As institutional demand for digital asset solutions continues to grow, both banks are expanding their service offerings to address evolving client needs and position themselves for long-term growth.
For Wells Fargo, the initiative is expected to enhance treasury management through programmable payments enabled by smart contracts, allowing funds to be released based on predefined conditions. The bank is also participating in a shared tokenized deposit network with JPMorgan, Bank of America and Citigroup through The Clearing House, aimed at enabling 24/7 blockchain-based payments, real-time liquidity management and cross-border settlements. The tokenized deposits solution retains the same regulatory protections and deposit insurance eligibility as the bank’s existing deposit products, allowing clients to benefit from blockchain-based functionality within the regulated banking system.
Meanwhile, BNY has partnered with Galaxy Digital to integrate staking into its Digital Asset Custody platform, combining custody and staking under a single institutional servicing model, subject to regulatory approval. Galaxy Digital will also serve as a design partner to enhance the bank’s blockchain infrastructure. The collaboration also builds on BNY's June 2026 partnership expansion with Circle Internet Group to support USDC on its Digital Asset Custody platform, reinforcing the bank's focus on institutional digital finance.
Although these initiatives are unlikely to materially affect near-term financial performance, they demonstrate the WFC and BNY’s commitment to evolving alongside changing market dynamics. Continued investment in innovative financial solutions could help strengthen customer relationships, broaden fee-generating opportunities, and support sustainable long-term growth as the financial services industry undergoes digital transformation.
Comparing Stock Performance: WFC vs. BNY
Over the past year, shares of Wells Fargo have risen 13.4%, significantly trailing the 55.8% increase recorded by BNY.
Image Source: Zacks Investment Research
Bank of New York Mellon Corporation currently sports a Zacks Rank #1 (Strong Buy), while Wells Fargo carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.