Swift and Wells Fargo join Linux Foundation Decentralized Trust
The LF Decentralized Trust acts as a neutral home for the open development of technologies that empower organisations to innovate with secure and resilient code. Its members come from a broad range of sectors, including financial services.
Explaining Wells Fargo’s decision to join, the bank’s CIO and head of digital technology and innovation, Chintan Mehta, says: “The future of financial services will require greater interoperability, trust, and collaboration across institutions and technology ecosystems.
“By joining LF Decentralized Trust, Wells Fargo is strengthening its engagement with the open source community to help advance foundational capabilities such as digital identity, tokenisation, and trusted digital infrastructure.”
The trust has also outlined its latest projects, which includes Panurus, a new platform neutral token infrastructure project that serves as a reusable foundation for blockchain-based asset management.
It is the evolution of the Hyperledger Fabric Token SDK lab and has already been deployed in CBDC projects in multiple markets. It addresses the critical privacy, performance, and compliance requirements for deploying tokenised assets that comply with real-world regulatory and operational demands.
Daniela Barbosa, GM, decentralised technologies, Linux Foundation, and executive director, LF Decentralized Trust, says: “We have reached a tipping point for commercialisation of digital assets.
“Billions of dollars of assets are already moving across production systems powered by LF Decentralized Trust technologies with more large-scale deployments going live in the coming weeks. As the newest members and technology updates underscore, our community and our technologies are at the core of the next generation of money, including tokenised assets, stablecoins, and CBDCs.”
