Wells Fargo files trademark for ‘WFUSD’ Crypto Services platform
US giant Wells Fargo has filed a trademark application for a range of cryptocurrency trading, payments and blockchain software services.
The filing filed with the US Patent and Trademark Office (USPTO) on Tuesday seeks protection for the name “WFUSD.” According to official trademark records, the application is currently awaiting assignment to an examining attorney.
The registry lists an extensive list of products and services that may be related to digital assets, including “cryptocurrency trading services, cryptocurrency exchange services, cryptocurrency exchange services, cryptographic payment processing, financial brokerage services for brokerage, electronic virtual currency transfer.”
The trademark also covers software tools designed for the blockchain ecosystem. The application lists the software available for download.
Related: Western Union's ‘WUUSD' trademark hints at crypto offerings
Wells Fargo file includes compensation and token
Other services mentioned in the filing include cryptocurrency payment processing, electronic transfers of virtual currencies, and financial data feeds that provide pricing information for blockchain-based smart contracts.
In addition to business infrastructure, Wells Fargo's trademark application mentions software-as-a-service platforms for simulating assets, verifying blockchain transactions and enabling cryptocurrency staking operations. The registry includes authentication services used in decentralized applications and blockchain-based data transfer tools.
While trademark registrations do not guarantee a product launch, companies often use them to protect a brand name for future offerings.
Wells Fargo is a prominent American international financial services company and one of the “Big Four” American banks.
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Banks will increase the stable coin push
The new trademark filing comes after reports that several US banks, including JPMorgan, Bank of America, Citigroup and Wells Fargo, are discussing a joint stablecoin project by 2025.
Earlier this year, Fidelity Digital Assets also announced Fidelity Digital Dollar (FIDD), a 1:1 US dollar-pegged, fully verified stablecoin on the Ethereum blockchain.
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