Wells Fargo, ING Among 5 New Banks Partnering With R3
BNP Paribas, Canadian Imperial Bank of Commerce, ING, MacQuarie and Wells Fargo are the latest major financial institutions to partner with distributed ledger startup R3CEV. With the announcement, R3 brings the number of financial institutions participating in its stealth initiatives to 30, with other major names including Bank of America, BNY Mellon, Citi, HSBC and Morgan Stanley, among others. Though details on the project are scarce, project representatives have indicated R3 is seeking to build what it calls a "global fabric of finance", or a blockchain or distributed ledger system....
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Wells Fargo has joined the race alongside JPMorgan in launching Bitcoin funds. The two big banks have both processed Bitcoin funds with SEC – the Securities and Exchange Commission. They are another pair of renowned banks to broaden their interest in cryptocurrency. Wells Fargo is an American multinational financial services company in the United States […]
Wells Fargo is the next major banking and financial services provider to join the mix of offering crypto assets. The news comes after last week’s report that Swiss-based institution UBS Group AG was looking to make a similar move. Wells Fargo’s Change In Perspective Just a few years ago, Wells Fargo was banning credit card […]
Wells Fargo will soon offer “a professionally managed solution” for cryptocurrency to clients. “We think the cryptocurrency space has just kind of hit an evolution and maturation of its development that allows it now to be a viable investable asset,” said the president of Wells Fargo Investment Institute. Wells Fargo Getting Into Crypto Darrell Cronk, the president of Wells Fargo Investment Institute, a registered investment adviser and wholly owned subsidiary of Wells Fargo Bank, revealed his team’s crypto plans to the Insider in an interview published....
Wells Fargo to host a public event on virtual currencies. Last week, here at CCN we reported on Wells Fargo calling a Bitcoin Summit to discuss "Rules of Engagement" for banks and Bitcoin. This original private summit was held on January 14th, 2014 and was headed by Jim Richards, the Vice President in charge of Wells Fargo's financial crimes risk management division. Presumably, at the January 14th summit, Wells Fargo and other banking officials saw a greater need for wider dialogue that included the public. According to this flyer released by Wells Fargo yesterday, Wells Fargo and Buckley....
"Rules of Engagement" are the exact words that Wells Fargo used, I can't make this stuff up guys... Even if I wanted to. As reported first in an FT article by Stephen Foley and Camilla Hall, Wells Fargo's anti-money laundering chief Jim Reynolds has launched a group to investigate how exactly Wells Fargo, and major financial institutions by extension and inclusion, might offer banking arrangements safely to Bitcoin-related services. Wells Fargo's chief executive John Stumpf further elaborated stating that it was Wells Fargo's standard bank practice to look into any financial innovations,....