Another banking giant has expressed its intentions of releasing its own digital token in the form of a Stablecoin that will be used to facilitate remittances through a new distributed ledger technology (DLT) payment network.

This comes after the largest bank in America, JPMorgan announced that it was releasing its own DLT powered stablecoin for interbank cross-border settlements.

The new stablecoin is dubbed as Fargo Digital Cash and is planned to be released next year and will be pegged to the U.S. dollar.

The new cryptocurrency and payments network will enable Wells Fargo to process money transactions faster and more cost-efficiently by eliminating intermediaries and can easily be integrated with Wells Fargo clients as the new system is not client-facing.

Wells Fargo will start an internal pilot of Fargo Digital Cash next year and is expected to roll-out the same year shortly after pilot testing.

Headlines for the world of Cryptocurrencies - September 17, 2019

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Headlines for the world of Cryptocurrencies - September 16, 2019

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Headlines for the world of Cryptocurrencies - September 15, 2019

• 277 Chinese Arrested In The Philippines For Running Crypto Scam
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• Binance Confirms Accidental Attacks On Bitcoin Futures Platform
• New Blockchain Tenancy Platform In Queensland
• Blockchain Driving Change In Africa

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