## The currency, called Wells Fargo Digital Cash, will be linked to the U.S. dollar and transferred using the bank’s distributed ledger technology to keep track of payments within its internal network.
## The system will allow the bank to bypass third parties in the asset transfer process saving costs and time, said Lisa Frazier, head of the Innovation Group at Wells Fargo.
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Last year, Wells Fargo joined U.S. rivals in banning the purchase of Bitcoin by credit-card customers, due to the volatility of the investment.

Blockchain technology has attracted billions of dollars in investments from banks and other companies, but concerns about implementation and scalability has hindered many blockchain projects so far.

Early roadblocks have not stopped banks from experimenting aggressively in the space. In February, JPMorgan Chase & Co (JPM.N) launched its own digital currency, also linked to the U.S. dollar, that allows its corporate clients to transfer funds instantly across its internal blockchain network.... [Please Read More Here](https://www.reuters.com/article/us-wells-fargo-blockchain/wells-fargo-tests-cryptocurrency-for-internal-transactions-idUSKBN1W22D3)

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