Western Union may be preparing to offer crypto-related services, judging by the trademark filing filed by the company last week. This is the latest of several attempts the company has made to enter the Cryptoverse. So far it has met with limited success.
Western Union applied for three trademarks on October 18th. According to trademark attorney Mike Kondodis, the activities covered by the application include managing wallets, exchanging digital assets and commodity derivatives, issuing tokens of value, brokerage and insurance services.
Western Union is a leading provider of international money transfer services, expressed interest and uncertainty Early in cryptocurrency.this Partner with Ripple to settle remittance payments in 2015, but that partnership still in testing stage Three years later, Western Union announced it. I didn’t add crypto transfer For the foreseeable future service.
#western union filed three trademark applications alleging a plan to
▶️ Finance + Banking + Insurance
▶️ Virtual currency exchange + remittance
▶️ Commodity/Cryptocurrency Trading + Brokerage
▶️ Issuance of valuable tokens
…etc#Web3 #metaverse #cryptocurrency #NFTs #DeFi pic.twitter.com/YvKysvj3mq
— Mike Kondoudis (@KondoudisLaw) October 25, 2022
However, Western Union continued its investigation and involvement in electronic wallets.this Partner with blockchain platform Coins.ph Strengthens Service in Philippines with technical support from Tunes.
The remittance market is becoming increasingly competitive. In February, Coinbase targeted Mexico, the second largest remittance market in the world, Allow users to send USD Withdraw Mexican Pesos. Several other companies have also entered the Mexican market this year, offering many financial inclusion solutions as well. An alternative to traditional money transfer providers.
Western Union now appears to be in a position to offer things like money transfer services in the crypto market, including digital asset exchanges and insurance, and may issue its own tokens.western union still enter a crowded and competitive fieldPayPal and Mastercard have also recently opened shops.