# U.S. Banks Outline Tokenization Uses for Payments, Trading and Advice

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/34144
Published: 2026-10-17T18:16:45.000Z
Updated: 2026-10-17T18:16:45.000Z
Section: Business

> Wells Fargo has tokenized deposit payments in production at small volume, with payments reaching beneficiary accounts in two minutes or less.

Goldman Sachs, Wells Fargo and Morgan Stanley are positioning tokenization around existing financial services, with early payment activity and potential uses spanning trading, cross-border transfers and wealth advice.

Across their October third-quarter calls, the banks discussed uses tied to businesses they already operate. Wells Fargo has tokenized deposit payments in production, while Goldman Sachs’ activity and Wells Fargo’s payment volume remain small. None of the calls included an estimate of tokenization revenue.

Goldman Sachs Chairman and CEO David Solomon described potential benefits as more products, greater client activity, new customers and wider distribution. “The developments are obviously creating more products, greater activity, potentially new clients, broader distribution channels,” he said. The remarks point to tokenization as an extension of the bank’s existing business, with potential benefits that have not been quantified.

Goldman Sachs also participated in the Depository Trust & Clearing Corporation’s (DTCC) July 15 live-production tokenized-asset trades, which involved about 40 firms. DTCC’s Tokenization Service is voluntary for eligible Depository Trust Company (DTC) participants and covers selected assets held there. The service has a three-year authorization under a Securities and Exchange Commission (SEC) no-action letter issued in December 2025.

Wells Fargo has tokenized deposit payments in production at small volume. CFO Michael P. Santomassimo put the transfer time at two minutes or less from initiation to beneficiary account: “the payments that we’re doing are getting from initiation to beneficiary account in two minutes or less.” The bank’s smaller international branch network makes tokenized payments relevant to its cross-border business. Other potential uses include tokenized real-world assets, securities and crypto trading for wealth clients.

Morgan Stanley CFO Sharon Yeshaya connected faster asset movement with a continuing need for advice. “The tokenized world means it’s faster and easier to move assets around and you will need advice,” she said. The advisory opportunity sits alongside the firm’s broader digital investments across wealth management and institutional securities; no new product was announced.

The banks outlined different applications, from a live but small deposit-payment operation to potential trading and wealth services. Their calls did not quantify tokenization revenue or the scale of future activity.