Wells Fargo plans to launch tokenized deposits this fall, allowing corporate and commercial clients to move and settle funds outside traditional banking hours.

Wells Fargo tokenized deposits will support 24/7 settlement

Per an Aug. 4 WSJ report, Wells Fargo said the service will allow participating clients to transfer, program and settle funds around the clock within a regulated banking framework. The initial rollout will cover transactions between the U.S. dollar and British pound.

Unlike conventional bank transfers, which can face market-hour restrictions and settlement delays, tokenized deposits represent customer funds as digital tokens on a blockchain. This structure can support near-continuous settlement while keeping the deposits within the banking system.

The program will run on Wells Fargo’s proprietary blockchain platform, which supports internal custodial wallets. The bank said future offerings could also use its interchain connectivity technology to communicate with other blockchain networks.

“The program will roll out this fall with a limited U.S. dollar (USD) to British pound (GBP) exchange and will expand over the course of 2027 to more clients, countries, and currencies,” the bank said.

Chief Financial Officer Mike Santomassimo described the launch as an “important step forward” in expanding the bank’s payment options. Wells Fargo will determine additional currencies and markets based on client demand.

Why banks are turning to tokenized deposits

Tokenized deposits allow banks to offer some of the speed and programmability associated with stablecoins without moving customer funds outside the regulated deposit system. Banks retain control over issuance, transfers, and compliance checks.

Wells Fargo joins JPMorgan and Citigroup in developing blockchain-based settlement services. JPMorgan has expanded its deposit-token infrastructure across blockchain networks, while Citi has developed tokenized deposit and securities services for institutional clients.

The new product could help Wells Fargo serve businesses that require cross-border settlement outside normal banking hours. Corporate treasury teams could also use programmable transactions to automate payments when predefined conditions are met.

For U.S. companies, the first USD-to-GBP corridor could reduce delays between American and British banking hours. However, Wells Fargo has not disclosed pricing, transaction limits, or eligibility requirements for the pilot.

WFUSD trademark preceded the tokenized deposit plan

The announcement follows Wells Fargo’s March trademark application for “WFUSD,” which prompted speculation that the bank was preparing a dollar-linked digital asset.

The U.S. trademark filing covers cryptocurrency payment processing, electronic transfers of virtual currencies, and software used to tokenize assets. It also includes blockchain-based payment verification and platforms capable of processing stablecoin transactions.

Wells Fargo has not confirmed whether WFUSD is the name of its planned tokenized deposit product. A trademark application also does not guarantee that a commercial service will launch under that name.

Still, the filing showed that the bank was evaluating blockchain-based financial services months before disclosing its tokenized deposit rollout.

Wells Fargo deepens its digital asset exposure

Wells Fargo has also increased its exposure to crypto-related investment products. A regulatory filing reported by crypto.news in July showed that the bank raised its Strategy position by 125% to nearly 726,000 shares, adding about $41.5 million in exposure.

The bank simultaneously reduced its position in BlackRock’s iShares Bitcoin Trust by 75,102 shares. It also opened a new IBIT call position, increased its put exposure and added investments linked to Ethereum and Solana.

Those holdings are separate from the tokenized deposit initiative, but they reflect Wells Fargo’s widening involvement across digital assets and blockchain infrastructure.

The bank plans to begin with selected corporate and commercial clients before broadening access during 2027. The rollout’s next phase will depend on demand, regulatory requirements and the platform’s ability to connect with other private tokenized deposit networks.

In a July 8 meeting, US and UK regulators highlighted the implementation of the GENIUS Act, payment modernization and cross-border cooperation, reinforcing a shared framework for digital asset oversight.

The United States and the United Kingdom reaffirmed their commitment to closer financial regulatory cooperation during a recent bilateral working group, signaling continued policy alignment on digital assets as US authorities move to implement landmark stablecoin legislation.

During the 13th meeting of the UK-US Financial Regulatory Working Group (FRWG), held in London on July 8, officials discussed stablecoin regulation, digital asset market structure in the United States, tokenization and the UK’s Wholesale Financial Markets Digital Strategy.

An Aug. 4 joint statement summarizing the meeting said US officials updated their UK counterparts on implementation of the GENIUS Act, the country’s landmark stablecoin law, as well as ongoing work on digital asset market structure. Participants also discussed payment modernization and the G20 Cross-border Payments Roadmap, an international initiative to improve cross-border payments.

Although the meeting did not produce new policy measures, it underscored a shared commitment to coordinating regulation across key areas of the digital asset industry. The statement struck a broadly supportive tone toward “responsible” digital asset innovation while emphasizing financial stability and international regulatory cooperation.

That commitment was also reflected on July 14, when the Transatlantic Taskforce for Markets of the Future — a joint US-UK initiative focused on strengthening cooperation on financial innovation and capital markets — published its initial recommendations alongside a joint statement on stablecoins. The governments said the measures would lay the foundation for continued US-UK leadership in digital assets and capital markets.

Related: UK government defers capital gains on certain crypto with ‘no gain, no loss’ approach

UK rethinks stablecoin rules as US moves ahead

The UK’s renewed emphasis on stablecoins comes as some industry observers argue the country is losing ground to the United States, where the GENIUS Act has accelerated momentum behind regulated dollar-backed stablecoins.

The Bank of England has also softened its stance on stablecoin regulation. As Cointelegraph reported in May, the BoE is considering alternatives to temporary limits on stablecoin holdings and is reviewing whether its proposal requiring at least 40% of reserve assets to be held as non-interest-bearing deposits at the central bank is too restrictive. 

Separately, the UK’s Financial Conduct Authority said earlier this year that cross-border payments represent one of the clearest near-term use cases for stablecoins, underscoring growing regulatory recognition of the technology’s potential.

Magazine: Coldcard exploit sparks Bitcoin flight, ‘bullish’ crypto consolidation: Hodler’s Digest, August 2

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Cathie Wood’s ARK Invest bought about $9.4 million worth of Coinbase and Circle shares on Aug. 3 as the U.S. Senate considered its next steps on the CLARITY Act.

ARK Invest adds $8 million in Coinbase shares

ARK Invest spread its Coinbase purchase across three exchange-traded funds, according to the firm’s latest trade disclosure.

The ARK Innovation ETF bought 38,761 Coinbase shares, making it the largest buyer among the three funds. Based on Coinbase’s Aug. 3 closing price of $146.50, the transaction was worth approximately $5.68 million.

ARK’s Next Generation Internet ETF added another 11,133 shares valued at about $1.63 million. The ARK Fintech Innovation ETF purchased 4,882 shares worth roughly $715,000.

Combined, the three ETFs acquired 54,776 Coinbase shares for approximately $8.02 million.

Coinbase closed the Aug. 3 session 0.16% higher. The purchase expanded ARK’s exposure to one of the largest publicly traded U.S. cryptocurrency exchanges while the broader digital asset market remained under pressure.

Circle purchase lifts ARK’s combined investment to $9.4 million

ARK also added shares of stablecoin issuer Circle Internet Group through two of its funds.

The ARK Innovation ETF purchased 17,910 Circle shares valued at approximately $1.08 million based on the stock’s $60.35 closing price. The ARK Next Generation Internet ETF bought another 5,160 shares worth about $311,000.

Those transactions brought ARK’s total Circle purchase to 23,070 shares, valued at roughly $1.39 million. Together with the Coinbase trades, ARK spent approximately $9.42 million on the two crypto-related stocks.

Circle fell 3.61% on Aug. 3 despite ARK’s purchase. Its shares have been consolidating near their recent lows after a prolonged decline from levels above $130.

The daily chart showed Circle rebounding to $62.56 on Aug. 4, up 3.66% during the session. However, the stock remained below its 20-day simple moving average at $63.73 and well below its 50-day average at $75.55.

Circle’s Chaikin Money Flow reading improved to 0.03, indicating slightly positive capital flow. A sustained close above $63.73 could strengthen the short-term recovery, while the $60 area remains an immediate support zone.

Coinbase and Circle stocks face technical resistance

Coinbase traded at $149.12 on Aug. 4, gaining 1.78% after recovering from an intraday low of $145.60. The rebound followed a recent test of the $139.25 support level.

However, the stock remained below the 78.6% Fibonacci retracement level at $156.99. That level represents the first major barrier to a broader recovery, followed by resistance at $170.93.

Coinbase’s relative strength index stood at 42.44, below the neutral 50 level. Its moving average convergence divergence indicator also remained bearish, with the MACD line below its signal line and the histogram in negative territory.

The readings suggest that buyers have defended the recent low but have not yet reversed the broader bearish momentum. A break below $139.25 would weaken the setup, while a close above $156.99 could open a move toward $170.93.

CLARITY Act remains absent from Senate schedule

ARK’s purchases came as Senate leaders continued discussions over the CLARITY Act, a proposed framework for dividing oversight of the U.S. digital asset market between federal regulators.

Senate Majority Leader John Thune included crypto market structure among the chamber’s remaining priorities before its August recess.

“We have a bunch of stuff that we have to finish, and we’ll just stay here until we finish it,” Thune said.

On the bill’s prospects, he added, “I think market structure we’ll get a vote on. Whether we can get on it or not, we’ll see.”

Despite those remarks, the CLARITY Act has not appeared on the Senate’s official floor schedule. The chamber has scheduled action on H.R. 6500, while no motion to proceed with H.R. 3633 has been announced.

Analyst Ted Pillows said a cloture filing on Wednesday would likely push the earliest possible vote to Friday. That leaves lawmakers with a narrow procedural window before the recess, while Coinbase and Circle investors await greater clarity on the bill’s prospects.

The Clarity Act is still not on the Senate’s floor schedule, making it increasingly difficult for lawmakers to pass the bill before the August 10 recess.

If Senate leadership waits until Wednesday to file cloture, a procedural step required to move the bill forward, the earliest…

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— Ted (@TedPillows) August 3, 2026

The XRP Ledger recorded a sharp rise in real-world asset holders as Ripple expanded its tokenization strategy. RWA holder numbers increased 25.16% during the past month, reflecting stronger activity across the network. However, the blockchain’s stablecoin market remained under pressure despite modest growth in participating addresses.

XRP Ledger RWA Holders Rise 25%

The XRP Ledger’s RWA ecosystem gained more holders as tokenized finance attracted additional users and businesses. Data showed a 25.16% monthly increase in addresses holding tokenized real-world assets on XRPL. This growth strengthened the network’s position within the expanding blockchain-based asset market.

Real-world assets represent physical or traditional financial products recorded and managed through blockchain technology. These assets can include bonds, property, commodities, funds, and private credit products. Tokenization can simplify ownership transfers while improving settlement speed and access to financial markets.

XRPL supports tokenized assets through fast settlement, low transaction costs, and built-in exchange functions. These features allow companies to issue, move, and trade assets without relying on multiple external systems. Consequently, the network has become a practical option for institutions exploring blockchain-based financial products.

Ripple Expands XRPL Tokenization Infrastructure

Ripple recently invested in two major companies to expand infrastructure supporting institutional tokenization on the XRP Ledger. The investments form part of Ripple’s broader plan to bring more financial assets onto blockchain networks. They also support tools needed for custody, settlement, compliance, issuance, and secondary market activity.

Ripple has increased its focus on capital markets as institutions explore tokenized funds and other digital financial products. The company aims to position XRPL as a reliable network for enterprise payments and asset management. Therefore, Ripple continues to add partnerships and services that connect traditional finance with blockchain infrastructure.

More than 1,000 developers and businesses now build products and services across the XRP Ledger ecosystem. These participants support payments, token issuance, decentralized trading, custody, compliance, and institutional settlement services. Their activity broadens XRPL’s utility beyond XRP transfers and strengthens its role in digital finance.

XRPL has operated for more than a decade and uses a consensus system without traditional mining. The network processes transactions within seconds and charges relatively low fees for transfers. These features have supported Ripple’s efforts to promote the ledger for cross-border payments and tokenized assets.

XRPL Stablecoin Market Remains Below Peak

Despite the RWA holder increase, the XRP Ledger’s stablecoin market recorded another decline during the month. Stablecoin market capitalization fell 9.04% and reached approximately $901.4 million. The decrease showed that holder growth has not yet produced a wider recovery in stablecoin value.

However, the number of stablecoin holders increased 0.92% during the same 30-day period. More than 60,240 addresses held stablecoins on XRPL after the monthly increase. This change suggests that participation expanded slightly even as the total market value declined.

Stablecoins support payments, trading, settlement, and liquidity across tokenized financial markets. Ripple also uses RLUSD to strengthen its payment and institutional product ecosystem. The dollar-backed asset operates on both the XRP Ledger and Ethereum, which extends its reach.

A stronger stablecoin market could improve liquidity for tokenized assets issued through the XRP Ledger. Stablecoins allow users to settle trades without moving funds through traditional banking systems. Therefore, their adoption could support Ripple’s wider institutional finance strategy and encourage more activity across XRPL.

The latest figures show uneven growth across the XRP Ledger’s expanding tokenization market. RWA holders increased quickly, while stablecoin capitalization continued to fall during the same period. Ripple’s infrastructure push now provides the main foundation for further adoption across both sectors.

The risk, which remains until users take action, is confined to specific devices and firmware. Owners of the Mk3, Coldcard’s 2019 model, should move their funds now if the wallet was set up on firmware 4.0.1 or later. Mk4, Mk5 and Q owners on firmware below 5.6.0 or 1.5.0Q should update, create a new wallet and then move their coins across.

Coinkite has said the exception is anyone who used the device’s dice option, where a user physically rolls dice at least 50 times and types in the results, and the wallet builds its key from those numbers instead of generating its own. Those wallets never touched the broken code and are safe.

A seed is the master key controlling a wallet’s coins, so one produced with too little randomness, or entropy, can be guessed and regenerated by an attacker, who can then drain the wallet without ever touching the device.

Vincent Bouzon, cybersecurity expert at Ledger, which makes competing hardware wallets, said the incident was a failure of one implementation rather than a verdict on self-custody.

“Every wallet ultimately depends on a root secret generated from high-quality entropy,” Bouzon told CoinDesk in an email, adding that the generation of that entropy “must be anchored in secure hardware, with an architecture that cannot silently downgrade to an untrusted software-based source.”

Ethereum researchers have proposed a new issuance model that would gradually burn validator rewards and reduce them to zero once about half of ETH’s supply is staked.

EIP-8361 would taper Ethereum staking rewards

Ethereum researchers Jérôme de Tychey, Justin Drake, dapplion, pintail, pa7x1, and Ladislaus von Daniels submitted EIP-8361 as a draft Core Ethereum Improvement Proposal.

A new $ETH improvement proposal has been published that would lower the staking yield to 0% if >50% of ETH is staked and to 1% yield at current levels of ETH staking.

Is this a good idea? pic.twitter.com/aOxwHdUC8n

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— Satoshi Stacker (@StackerSatoshi) August 4, 2026

Called Tapered Issuance Burn, the mechanism would destroy part of the rewards validators receive for attestations, proposing blocks, and participating in sync committees. The share burned would rise alongside the proportion of ETH committed to staking.

The burn rate would eventually reach 100% when about 60.25 million ETH is staked. Based on Ethereum’s current circulating supply of about 120.7 million ETH, that level represents close to 50% of all ETH. CoinMarketCap data placed the circulating supply at roughly 120.68 million ETH at the time of writing.

As a result, validators would no longer receive consensus-layer issuance rewards after staking reaches the proposed threshold. They could still earn other forms of revenue, including transaction priority fees and maximal extractable value.

Why Ethereum researchers want to change issuance

EIP-8361 seeks to remove what its authors describe as a permanent incentive for more ETH to enter staking, even when additional deposits may provide limited security benefits.

“The current issuance curve continues offering a yield of around 1.5% even if nearly all ETH is staked,” the authors wrote.

They added that “the remaining yield floor provides no point at which issuance stops encouraging additional staking.”

Under the draft model, annual ETH issuance would peak at approximately 0.5% of supply when the staking ratio reaches about 20%. Issuance would then decline as more ETH enters staking before reaching zero near the 50% threshold.

Ethereum’s staking ratio has already exceeded one-third of its supply. The proposal estimates that more than 70 million ETH could be staked by January 2028 if demand continues under the existing reward structure.

Transition would protect validator yields initially

The researchers proposed an 18-month transition rather than applying the permanent reward curve at once.

Ethereum’s base reward factor would initially rise from 64 to 128 before gradually returning to its current level. The temporary adjustment is intended to keep validator yields near their existing range during the early phase before the tapered burn becomes more restrictive.

For US validators and staking service providers, the proposal could change the economics of operating Ethereum infrastructure if developers eventually include it in a network upgrade. Lower issuance rewards could affect expected returns, although the draft would not alter US tax or securities rules governing staking.

The plan also follows a separate Ethereum research proposal reported by crypto.news in June. That mechanism, known as validator redirected revenue, would allow validators to direct between 0% and 10% of their staking income toward ecosystem funding.

Under that proposal, contributions would become mandatory if 51% of validators supported a redirect rate above zero. Its authors argued that shared funding could help pay for research, security, and public tools used across Ethereum.

EIP-8361 still faces community review

EIP-8361 is a draft and does not automatically change Ethereum’s monetary policy. It must move through technical review, community debate, and developer coordination before it can be considered for a future network upgrade.

The proposal has already drawn concerns that less predictable yields could affect solo validators, institutional staking operations, and decentralized finance strategies built around staked ETH.

ETH showed no clear reaction tied to the draft. The token traded near $1,878, up about 0.5% over 24 hours, with approximately $7.86 billion in trading volume at the time of writing, according to CoinMarketCap.

BNY has tapped crypto financial services firm Galaxy (GLXY) to add staking capabilities to its digital asset custody platform, the companies announced Tuesday.

The new service will allow institutional clients to stake digital assets held in custody through BNY’s platform, pending regulatory approval. Galaxy will provide the staking infrastructure while also serving as a design partner as BNY expands its blockchain-based services.

Staking allows holders of certain crypto assets to help secure blockchain networks by locking up their tokens in exchange for rewards. For large investors, offering staking through the same platform that holds their assets removes the need to transfer tokens to a separate provider.

BNY, formerly known as Bank of New York Mellon, has steadily expanded its digital asset business since launching crypto custody services in 2022. The bank oversees tens of trillions of dollars in assets under custody and administration, making its moves into blockchain infrastructure closely watched across the financial industry.

The financial services firm recently said it was shifting its core transfer agency record-keeping onto blockchain technology, creating a single onchain ownership ledger that it said will reduce reliance on multiple intermediaries. It also plans to introduce around-the-clock settlement for traditional and tokenized U.S. Treasuries in 2027 and begin testing tokenized Treasuries on a private blockchain before the end of this year.

Dogecoin price traded near $0.070 as SPCX stock extended its rebound ahead of SpaceX’s first earnings report as a public company.

Dogecoin price holds near $0.070

According to data from crypto.news, Dogecoin (DOGE) price was trading at $0.07035 at the time of writing, remaining near the lower end of its three-month range. The meme coin has stabilized after falling from a May peak above $0.117, but the daily chart has yet to confirm a sustained bullish reversal.

DOGE is trading below the Bollinger Bands’ 20-day midpoint at $0.07122. The level represents the first barrier buyers must reclaim before challenging the upper band at $0.07398.

The daily Relative Strength Index stood at 43.09, slightly above its moving average of 40.42. The reading shows that momentum has improved but remains below the neutral 50 mark, leaving sellers with a modest advantage.

Dogecoin’s immediate price action is unfolding alongside a broader crypto market recovery. Bitcoin traded around $63,400, while Ethereum hovered near $1,840. However, DOGE’s gains remained limited as traders waited for a stronger catalyst.

SpaceX earnings put Musk-linked assets in focus

SpaceX is scheduled to release its second-quarter results after the U.S. market closes on Tuesday. Management will hold an audio webcast at 4:30 p.m. ET, according to the company’s investor announcement.

The report will be SpaceX’s first since its June initial public offering. Investors are expected to focus on Starlink subscriber growth, Starship spending and the financial impact of the company’s artificial intelligence operations.

Analysts expect SpaceX to report about $6.8 billion in quarterly revenue and a loss of roughly $0.23 per share, according to Yahoo Finance. Market estimates vary, with some forecasts pointing to a quarterly net loss of between $1.55 billion and $1.9 billion.

Options pricing implied that SpaceX shares could move about 15% in either direction after the report, potentially changing the company’s valuation by approximately $225 billion, Reuters reported.

Dogecoin has no direct financial link to SpaceX earnings. However, both assets remain connected through market sentiment surrounding Elon Musk. This association can attract speculative DOGE trading when Musk-owned companies dominate U.S. market attention, though it does not guarantee a corresponding price move.

Dogecoin price must break $0.07398

The daily chart places DOGE’s first significant resistance at $0.07273, corresponding to the 78.6% Fibonacci retracement of its decline from $0.09092 to $0.06778.

A daily close above that level would expose the upper Bollinger Band at $0.07398. Buyers would then need to break $0.07662, the 61.8% Fibonacci level, to establish a more convincing recovery.

Continued momentum above $0.07662 could open a move toward $0.07935. The next resistance levels would stand at $0.08208 and $0.08546, although DOGE would require stronger volume and an RSI move above 50 to support that scenario.

On the downside, the lower Bollinger Band sits at $0.06847. A loss of that level could return DOGE to the $0.06778 range low.

Breaking below $0.06778 would invalidate the immediate rebound and extend the bearish structure that has controlled the daily chart since May.

SPCX stock tests $119 Fibonacci resistance

SPCX stock traded at $119.71 on the 4-hour chart after gaining 4.6%. Shares rebounded from a low near $105 and moved back above the 78.6% Fibonacci retracement level at $119.34.

Holding above $119.34 would allow buyers to challenge the 4-hour Supertrend resistance at $124.15. A confirmed break above the Supertrend could shift the short-term signal and place $130.67 in focus.

Further resistance stands at $138.63 and $146.58. However, the broader chart remains bearish after SPCX declined from $172.34 in early July and from its June high above $220.

The Awesome Oscillator remained negative at minus 10.40, showing that bearish momentum has not fully disappeared. Its rising bars nevertheless indicate that downward pressure is easing as the stock rebounds.

Failure to hold $119.34 could send SPCX back toward $114 and $110. The primary technical floor remains near $104.91.

Earnings and share unlock could increase volatility

SpaceX’s earnings will not be the only event affecting the stock. An IPO lockup is due to expire on Aug. 6, potentially allowing insiders and early investors to sell up to 911.5 million shares, according to Business Insider.

That incoming supply could limit an earnings-driven rally or deepen a decline if SpaceX misses market expectations. Strong Starlink growth, improved margins or clearer spending guidance could instead help SPCX hold its recovery.

For Dogecoin, the technical picture remains neutral-to-bearish while the price stays below $0.07273. SpaceX earnings may lift trading interest around Musk-linked assets, but DOGE still needs a confirmed breakout above $0.07398 to turn that attention into a stronger price recovery.