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Gate News Report, March 12 — U.S. major bank Wells Fargo has filed a cryptocurrency-related trademark application with the United States Patent and Trademark Office for the name WFUSD. According to the application documents, WFUSD will provide cryptocurrency payment processing, digital asset trading execution, and asset tokenization software services. The name suggests that it may be a deposit token or stablecoin. Previously in 2019, Wells Fargo disclosed plans to pilot an internal settlement service called "Wells Fargo Digital Cash" on its proprietary distributed ledger platform.