Wells Fargo is planning to test the use of a stablecoin, or a coin whose value is pegged to a fiat currency or a basket of goods, for US dollar transfers and Distributed Ledger Technology (DLT), a more centralized version of blockchain, in its operations in 2020. The San Francisco-based bank has already internally tested Wells Fargo Digital Cash, its settlement platform, to move value between the US and Canada.

Next year’s test will help Wells Fargo “achieve near real-time money movement” and quicker settlement times between its branches and provide service over and above normal working hours. The initial tests will be conducted for US dollar transfers but the bank plans to expand the use cases to other currencies later.

“We believe DLT holds promise for a variety of use cases, and we’re energized to take this significant step in applying the technology to banking in a material and scalable way. Wells Fargo Digital Cash has the potential to enable Wells Fargo to remove barriers to real-time financial interactions across multiple accounts in multiple marketplaces around the world,” stated Lisa Frazier, head of the innovation group at Wells Fargo.

The country’s fourth biggest bank in the U.S., joins a slew of other financial institutions using variants of decentralized technology to streamline operations. JP Morgan unveiled the JPM coin, with similar goals as the Wells Fargo currency, based on blockchain technology earlier this year. Spain’s Bank of Santander issued a $20 million bond offering on blockchain last week. Wells Fargo itself had earlier developed a trade finance platform for the cotton trade industry back in 2016 using DLT.