Western Union has filed trademark applications for a range of crypto products

Article Reading Time:
1 min.

Looks like a well known serviceinternational money transfers Western Union is preparing to significantly expand the number of cryptocurrency products. Trademark applications hint at this.

According to trademark lawyer Mike Kondoudis, Western Union's filings cover a range of different cryptocurrency-related activities. 

Among other things, it is possiblecreating wallets for digital assets, systems for exchanging digital tokens and derivatives, issuing tokens, as well as providing brokerage and insurance services in the field of digital assets.

This is not the first time the company has shown interest incryptocurrency industry. Back in 2015, Western Union partnered with Ripple to facilitate international transfers using XRP. However, apparently, the testing of the project was not very successful - the cost of translations turned out to be too high.

In April of this year, CEOStrike service Jack Mallers said that Bitcoin is the most effective payment system, working much faster than services such as Western Union.