Western Union To Expand To Crypto Industry With Its 3 Trademark Applications

According to trademark applications submitted by the firm last week, Western Union may be prepared to provide crypto-related services.

On October 18, Western Union applied for three trademarks. According to trademark attorney Mike Kondoudis, the applications encompass operations like maintaining wallets, transferring digital assets and commodity derivatives, issuing value tokens, and brokerage and insurance services.

Western Union is a prominent provider of cross-border remittance services, and it expressed early interest in, as well as skepticism about, cryptocurrencies.

It teamed with Ripple in 2015 to settle remittance payments, but the cooperation was still in the testing phase three years later, and Western Union declared that it would not be adding crypto transactions to its services in the near future.

Western Union, on the other hand, has continued to research and interact with electronic wallets. It collaborated with the blockchain platform Coins.ph to improve its services in the Philippines, with technical assistance from Thunes.

Western Union appears to be positioning itself to provide remittance services as well as other crypto-related services such as a digital asset exchange and insurance, and it may issue its own token. It is still entering a busy and competitive industry where corporations like PayPal and Mastercard have lately established themselves.

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