MASSIVE! WELLS FARGO CRYPTO PLANS REVEALED! MASTERCARD'S NEW CRYPTO PROGRAM! - podcast episode cover

MASSIVE! WELLS FARGO CRYPTO PLANS REVEALED! MASTERCARD'S NEW CRYPTO PROGRAM!

Mar 12, 202621 min
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Episode description

Crypto News: Wells Fargo filed a crypto-related trademark application for WFUSD, signaling a deeper push into crypto and blockchain services. Mastercard launches new Crypto Partner Program. Brought to you by 🏦 Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms https://www.itrustcapital.com/go/thinkingcrypto

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⏰ Time Stamps ⏰
00:00 Intro
00:37 Wells Fargo Crypto WFUSD
03:32 MasterCard crypto program
04:52 BitGo StableX stablecoin
06:11 Kraken tokenized stocks news
07:51 SEC CFTC collab
10:44 Societe Generale Euro stablecoin
12:15 Trust Wallet scam checks 
13:47 Babylon Ledger Bitcoin 
15:05 Tron TRX Agentic AI Foundation 
17:22 Multicoin Internet Labor Markets crypto
================================================= 
#Crypto #WellsFargo #Mastercard #CryptoNews #Cryptocurrency #Bitcoin #BTC #BitcoinNews #ETF #News #Ripple #XRP #XRPNews #RippleXRP #Ethereum #EthereumNews #ETH #Solana #money #investing #trading #Altcoin #Altcoins #NFTs #Metaverse #Podcast #ThinkingCrypto ================================================= 
The Thinking Crypto Podcast is your home for the best Crypto News and Interviews - crypto, cryptocurrency, crypto news, bitcoin, bitcoin news, xrp, xrp news, ripple, ripple news, ripple xrp, ethereum, ethereum news, cardano, ada, solana, altcoins, defi, news, interviews, podcast, metaverse, nft, altcoin daily, cryptosrus, coin bureau, altcoin news, bitcoin today, markets, investing ================================================= 
Disclaimer - The Thinking Crypto podcast and Tony Edward are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This channel and its videos are just for educational purposes and NOT investment or financial advice. Note that links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week!

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Transcript

Intro

Speaker 1

Hey everyone, Welcome into the Thinking Crypto podcast. You're home for cryptocurrency news and interviews. I'm your host, Tony Edward. On your way in. Please let that subscribe button as well as a thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple Podcasts, please be sure to follow and leave a five star rating. Folks, I want to apologize ahead of time for my voice. I'm a bit under the weather, have a bit of a cold, so that's why I

skipped yesterday's episode. But we got big news today, huge adoption news by banks and much more. So let's kick it off. Okay, the first news item, Wells Fargo signals

Wells Fargo Crypto WFUSD

deeper push into crypto following a trademark for WFUSD. Now, wf USD sounds like a stable coin, right. We've seen that other folks who have launched stable coins like Ripple are l USD like PayPal p yus D, so it certainly sounds like a stable coin. But this should come as no surprise. We've been seeing JP, Morgan, City Bank, P and C Bank and others having launching crypto services. They've talked about launching a stable coin. They want to offer crypto trading, custody and much more. So. This is

the direction the puck is heading in. It's inevitable all the banks will participate in one way or the other. So let me give it to details here. So wells Fargo file a crypto related trademark application for WFUSD, signaling a deeper push into crypto and blockchain services. The USPTO filing indicates WFUSD with support cryptocurrency, payment processing, digital asset trading, and software for tokenizing assets, with the name hinting at a deposit token or stable coin of course, of course, guys,

And notice all the different aspects they highlighted here. Tokenization, digital asset trading, crypto, payment processing. So all the banks are going to get involved, and you're going to see them do some very interesting things with crypto, such as using crypto for collateral for loans, mortgages and things alone those lines. So the move follows similar efforts by JP Morgan and comes amid broader interest from major US banks in tokenized assets and stable coins. So many of you

know JP Morgan. They've been at this for a long time with Consensus when they launched jpm coin back in the day, but it was a wallgarden, right. They tried to do a private permission type of setup, but no one's going to trust it, right, It's just another wallgarden. So we're seeing that they're now bridging to public chains. So most recently, JP Morgan they launched their permission USD depositoken on Base, which is the ethereum layer two created

by Coinbase. So I'm very curious to see what wfusd wells Fargo's depositoken or stable coin, how that's going to be set up maybe similar, Right, they're going to launch on different blockchains. Usually they start with Etherereum, but they could start with Base because Coinbase they have a crypto as a service solution which makes it easier for many of these banks, and JP Morgan, City, PNC, and I believe some others are already leveraging coinbasis service. So guys,

I mean, just look at what's happening. So we're still in the early innings. This is just a tippitty iceberg, and there's going to be a lot more built out, But this is just a news item here that you got to share with a crypto skeptic, right with a blockchain skeptic who they don't get what's going on. They may have just read certain headlines, but they haven't gone further to educate themselves. So make sure you share this type of news with them. Here's another example of a

MasterCard crypto program

massive financial giant getting more involved in crypto. So MasterCard launches new Crypto Partner Program, a global initiative which brings together more than eighty five industry leaders ensuring that what's next works with what already does. So TRADFI trying to bring together Crypto and the other TRADFI companies to make sure this all works together right because infrastructure is being set up right now, and we know MasterCard, this is

not their first go round. They're supporting stable coins and crypto in different ways. They're using blockchain tech. I interviewed master cards head of Crypto last year. I should be having him back on the podcast soon to talk about all these things. But MasterCard is not playing around, and the same thing with Visa. Visa is not playing around.

The race is on. So the credit card companies, the stock exchanges, the banks, the investment firms like black Rock and Fidelity, and much more all getting involved It was once taboo to talk about all of this and to say, oh, yeah, we're going to look at blockchain crypto. Right. At one point Larry Fink, CEO of Blackrock, was calling this all a scam as well. But now it will be foolish to not have a strategy. So that's why you are seeing so many developments from these big trad five firms

now moving ahead. Bitgo to custody digital assets for stable

BitGo StableX stablecoin

excess one hundred million dollars stable coin plan. Many of you may know Bitgo founded by Mike Belshie. They're one of the top crypto custodians and they provide a variety of services, but they're mostly known for custody and trading services, and it looks like they have been selected here by stable x Technologies Digital Asset Treasury as it plans to acquire up to one hundred million dollars in crypto tookens

tied to the stable coin sector. According to Tuesday's announcement, Bitco Bank and Trust will serve as the custodian for stable X's digital asset holdings, while Bitco's trading platforms will help execute the company's planned acquisitions through its over the counter liquidity desk. Stable X SBLX is a publicly traded company focused on stable coin infrastructure and related technologies. Here's a quote. The stable x deal is notable because it

goes beyond bitcoin centric treasury strategies. It signals demand for institutional custody infrastructure around stable coin ecosystem tokens. So you can see that the ACID class is maturing. It's going beyond Bitcoin, it's going beyond just all coins. There's tokenized assets, there are stable coins and much more. So, really really great stuff here. Okay, moving ahead, Kracken's tokenized stock venue

Kraken tokenized stocks news

starts points program hinting at possible ecosystem token. So this is interesting. Kracken's been doing a lot so x stocks, a Kraken linked in tokenized equities platform, is launching an x rewards program to incentivize traders, liquidity providers, and defive builders who use its on chain stock tokens. Points systems in crypto often precede token launches or governance incentives, though x stocks has not officially announced plans per token yet.

The move comes as tokenized equities rapidly expand, with more than one billion dollars in value locked and growing interest from traditional finance, including a new NASDA krack in partnership to distribute tokenized stocks outside the US so many we may recall earlier in the week, and as that announced, they're partnering with Kraken to be able to expand and go twenty four to seven. So huge things happen on

Kraken's front. And look, if Kraken goes public with all these partnerships, I'm certainly gonna look to buy the stock now. I never buy the initial IPO moments right because the stock pumps, but I'm gonna wait for it to go down and then scoop up, the same thing I was doing with Circle, because Circle, I think many of you saw, I pumped like crazy then it corrected, right, So you want to buy when there's blood on the streets. So

I'm diversified. I hold equity stocks and so forth along with crypto and certainly on the stock side, more so crypto companies than you know, traditional tech companies, although I do have some Tesla stock and things like that. Okay, moving ahead, we have continued synergy between the SEC and

SEC CFTC collab

the CFDC, so SEC Chair Paul Atkins and CFDC Chair Mike Sea Leake. They posted a photo of themselves working together signing a memorandum of understanding which solidifies their efforts to achieve their mutual goals of harmonization, and of course a lot of this is around crypto and digital assets,

so it's great to see these agencies coming together. So it ends a lot of the confusion and problems we've had historically, and they can get the rule making done, because it's one thing to have the Clarity Act, but if you don't have the agencies which are doing a lot of the enforcing and the guidance giving you the rules,

then we're not going to get very far. But the fact that they're doing this while the Clarity Act is being worked on, and we obviously got to figure out the bank stable coin Yald situation, it's great to see the two agencies working together. And this is going to be really really important for the adoption or further adoption by institutions and even the regular folks who want to adopt crypto in different ways. So really really big stuff here, folks.

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Societe Generale Euro stablecoin

Forge launches euure cv stable coin on this Stellar blockchain. So a couple of takeaways here. We continue to see banks and major institutions around the world launching stable coins, doing much more of a crypto and they're building on the public chains. Many of you hold the XLM token, which is the native token of the Stellar blockchain. I personally do, so this is really great. This is how

you can benefit from this type of adoption. So sociat Generale Forge, the crypto arm of French banking company Sociate Generale, has deployed its Euro denominated stable coin on the Stellar blockchain, continuing a multi chain expansion first announced in twenty twenty five. The stable coin, known as euer Coinvertible or eur CV, is designed to comply with the European Union's Markets in Crypto Assets MICA framework and represents a tokenized Euro issued

by the company for use in digital asset markets. Incredible stuff so according to the company, the Stellar deployment is intended to broaden the stable coin's use across blockchain based financial applications and tokenize asset services. Sg Forge said Stellar offers high transaction through put, low network fees, and built in support for tokenized assets. The network also includes a decentralized exchange that allows users to trade digital assets directly

on chain. This is the future, folks. Okay, moving ahead,

Trust Wallet scam checks

trust Wallet adds real time scam address checks for crypto users. I love this update. This is going to be so important and I hope more platforms and exchanges do this

and they can leverage AI to do this. So if there's known user names or wallet addresses that have been associated with scammers, then you know, as you're trying to send money or whatever you're doing, it will flag it, right, that would be so helpfulful a lot of people, especially if they're you know, using crypto as it's meant to use the ethos of it where you're where you have

a self hosted wallet, or you're on a crypto exchange. Right. Obviously, people who participate via ETFs don't have to worry about things like this, but I think majority of us who are early adopters we you know, self custody for the most part. So trust Wallet has introduced address poisoning protection, adding a new screening feature designed to help users avoid

sending cryptocurrency to scam wallets that mimic legitimate addresses. The self custody wallet provider said Tuesday that the new feature will automatically run a destination address check against a database of known scam and look alike addresses to prevent malicious transactions. The rollout initially covers thirty two etherorem virtual machine compatible blockchains, including Etherorem, BnB, smart Chain, Polygon, Optimism, Arbitrum, Avalanche, and Base.

So I love this. This is what we need to see for further adoption, to weed out the bad actors and scammers and to help protect folks. Okay, moving ahead,

Babylon Ledger Bitcoin

Babylon and Ledger tie up expands access to bitcoin vaults for collateral use. So Bitcoin staking infrastructure developer Babylon Labs has integrated with Ledger, a cryptocurrency hardware wallet, in a move that could make it easier for holders to put their bitcoin to work in financial applications without giving up self custody. In a Tuesday announcement, the company said Ledger signers will be used for Babylon's trustless bitcoin vaults, known

as BTC vaults. The vaults allow bitcoin holders to lock their tokens into programmable contracts governed by on chain conditions, while retaining self custody of the underlying assets. Ledger devices will act as the secure signing layer for BTC vault transactions, enabling users to authorize vault interactions directly from their hardware wallet.

So the feature relies on ledgers clear signing technology, which displays human readable transaction details on the device screen so users can verify exactly what they are approving before signing. The approach is designed to reduce the risk of signing malicious or of pick transactions, a common concern in crypto workflow. So I love this again. More security more collaboration here among the industries. So this is really great, Okay, Moving ahead,

Tron TRX Agentic AI Foundation

TRON joins a gentic Ai Foundation as founder sees future in AI, so we're seeing the collaboration between AI technology and blockchain technology. So the TRON network has joined the Linux Foundation's agentic Ai Foundation as a governing member to support the development of infrastructure for AI agents. In an announcement of Monday, Trond's Decentralized Autonomous Organization or DOO said the network joined the agentic Ai Foundation and will serve

on its governing board. Tron Dow said agentic ai will generate significant demand in the future, and as such, it requires collaboration and interoperability to establish systems that can handle continuous, high volume, low value transactions efficiently to scale. So I think we all know we've talked a lot about it. Ad nauseum. AI agents are not going to use cash, They're going to use stable coins. Right, is going to be a lot of blockchain technology put into place to

help safeguard these AI agents and also to police them. Right, I've often talked about one of the major narratives I believe for the next bullmarket and adoption as well, will be blockchain used on publishing platforms, whether it be social media or news websites, to date, stamp and show the origin of content because there will the AI video and images will be so sophisticated, guys, and maybe a year or two away where you're not going to be able

to differentiate. It's going to get more advanced and you're gonna need blockchain to help you verify. There's gonna have to be some sort of dialogue box that says this was published on this date by this person on this chain, and you know, all the transaction data and everything, timestamps and everything will be there and only blockchain can provide that verifiability, right, And this is where you know, we could see major chaines like Etheroreum, Solana and different things

be used. I believe the folks that Fox News are working on something like this and they're actually using Polygon, but don't quote me on that. I plan to do a video, you know, talking about that, and that's something I'm gonna be personally watching. So that could be a huge narrative in a next bullmarket. Now, speaking of the

Multicoin Internet Labor Markets crypto

next bull market, investment firm, multi coin bets, internet labor markets will drive crypto's next wave of adoption. So many of you may be familiar with multi Cooin. They're one of the crypto funds that they were early to Solana. They invest in Solana, they did a lot more as well. So crypto's main use case has long been buying and trading tokens, but some investors believe the next wave of

adoption could come from earning them instead. Multi Cooin Capital calls this emerging model internet labor markets, where users receive crypto for contributing tasks like data labeling, bandwidth, or other online work. Proponents the model could transform crypto from a speculative trading ecosystem into a global marketplace for digital labor. I think there's some part of this which makes sense.

I think stable coins, right, A lot of people still want the US dollars, So if you can pay them on stable coins, yeah, yeah, you know, that could work. And but you know, as far as specific crypto assets, I don't know, you know, that's tbd. If there's more infrastructure for people to be able to spend their crypto assets like bitcoin, eth, Salona, XRP, and so forth, then yeah, I think people will be more open to it. To say Okay, yeah, pay me an XRP, pay me an ETH.

But if they they're not enough off rams for them to quickly translate that to cash if they need it or to spend it, then it's better off you send me the stable coins because the stable coins have less friction and less of a barrier for adoption, because it's pretty straightforward, tokenized dollar, tokenized euro. Right, many businesses and merchants and services going to be familiar with that, and you know, we all know the benefits the instant settlements,

low fees and so forth. But it's TBD. You know, this could certainly work out if the infrastructure is there, and I don't know if it happens in the next bull market. You know, we're really going to have to wait and see. But I'm in agreement overall in the longer term vision of this that this could work out really well. Folks. That's the news. Let me know what you think. Leave your thoughts and comments below. Subscribe if you haven't as yet, please support the podcast by subscribing

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