Remittance giant Western Union has filed crypto-related trademark applications after several unsuccessful attempts to form major crypto partnerships
Mike Kondoudis, a trademark attorney, says that the Denver, Colorado-based money transfer company Western Union has filed several trademark applications with the U.S. Patent and Trademark Office that have to do with cryptocurrencies.
The company’s applications for trademarks suggest that it may want to start a virtual currency exchange and also manage and maintain digital currency wallets. Also, the Remittance giant might make its own cryptocurrency token to compete with companies that were built around cryptocurrency.
It has also filed for trademarks for services related to managing and administering cryptocurrencies and other financial instruments. It’s still unclear if the Remittance giant will get into cryptocurrency, but its recent filings shouldn’t be a surprise.
Hikmet Ersek, the former CEO of Western Union, said in 2014 that he would be open to Bitcoin if it were fully regulated as a currency. In 2015, his company talked with Ripple Labs about working together, but nothing came of it.
In March 2017, the Remittance giant began to look for patents for analyzing cryptocurrency transactions. During the same year, it also hinted that it would work with Coinbase, but that didn’t happen.
In April 2019, the biggest money transfer company joined forces with a blockchain startup called Coins. ph to make it easier for people in the Philippines to get money sent to them. U.Today said in June 2020 that Western Union planned to buy former Ripple partner MoneyGram, but the deal did not go through.
