Wells Fargo will offer $10.00 for the first time to an online virtual currency exchange, according to a statement on its website.
The offer, which will launch in the next two weeks, comes after the U.S. Securities and Exchange Commission issued guidance on virtual currencies.
It is aimed at helping people to buy and sell virtual currencies, and the bank has a policy to limit the amount of money a customer can send into the virtual currency market, according the statement.
The virtual currency is traded on a platform called EtherDelta, which is a decentralized digital currency exchange that allows anyone to buy or sell virtual currency.
The company is working on building out a service to allow users to convert and sell other cryptocurrencies, the statement said.
Wells Fargo also plans to offer a $10-per-month subscription for people who trade virtual currency and invest in it.
“Our investment banking team will be reaching out to other leading institutions to help them better understand the potential of virtual currencies as a new way to invest in companies and communities,” Wells Fargo chief financial officer John J. Mack said in a statement.
“We believe it is the right thing to do.”
Wells Fargo invested in virtual currency platform Coinbase and the Bitcoin Investment Trust.