September 17, 2019 Wells Fargo to launch a DLT-based stablecoin for internal settlements.

The program, Wells Fargo Digital Cash, aims to improve settlement speeds across international locations and expand operating hours. It will use a proprietary version of distributed ledger technology (DLT), and be a fully private network. This announcement draws parallels to JP Morgan’s JPM Coin, itself a private stablecoin for internal settlements.