Wells Fargo Applies for WFUSD Trademark, Signaling Use in Crypto and Stablecoins
Wells Fargo has applied for a U.S. trademark for "WFUSD", indicating possible plans for cryptocurrency and stablecoin-related financial services. The trademark covers services and software for cryptocurrency trading, exchange, payment, and processing of digital and blockchain assets under classes IC 009, IC 036, and IC 042. The application, filed on March 10, is pending review as part of a process that can exceed ten months. The move mirrors earlier filings by banks like Western Union, which trademarked “WUUSD” and announced plans for a dollar-backed stablecoin. However, similar filings—for example, JPMorgan’s “JPMD”—have not always resulted in stablecoins but sometimes in other digital asset products. Wells Fargo has previously engaged with crypto markets, providing access to Bitcoin ETFs and discussing joint stablecoin ventures with other banks. The firm’s shares recently traded around $77.60, down 1.8% on the day and 17.5% year-to-date, but up over 14% in the past year.
