Lately, the USPTO (United States Patent and Trademark Office) keeps receiving trademark applications from many companies. Most of these requests are related to crypto as well as the Metaverse. This makes sense given the current economic context as well as the place of cryptocurrency.
The financial services giant, Western Union, also operates the world of crypto. At least, that’s what we can translate from the trademark application filed recently by the company.
Three trademark applications covering cryptographic services
Kondoudis’ tweet confirms it: Western Union wants to enter the crypto market. According to this Western Union attorney, the three USPTO filings claim plans for the following:
- Finance, banking and insurance
- Exchange and transfer of virtual currencies
- Commodity and cryptocurrency trading and brokerage
- Issuance of securities and many more
If we refer to this data, Western Union does indeed intend to offer its users a mixture of several crypto services. The company is reportedly ready to perform its own virtual currency exchange. But not only ! Western Union is also preparing to launch its own cryptocurrency token.
Crypto projects that are not new
Even though Western Union was hesitant to take the plunge into blockchain technology, it never hid its interest in crypto. The proof: already in 2018, the president of the company at the time, Odilon Almeida, declared “Cryptocurrency could become one more option for a means of exchanging assets between people and countries. If that happens, we’d be ready to get going.”
Almeida also claimed that Western Union would be better positioned to benefit from the crypto movement. The reason is simple: he has extensive knowledge of international money transfers.
For Western Union, all the conditions are met to make the leap into the world of crypto. The company took the first step by filing its trademark applications. But apparently, she is not the only one to start this process. PayPal is also getting involved. To be continued…
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My name is Ariela and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago. But it is a universe that interests me a lot. And the topics covered within the platform allow me to learn more. Singer in my spare time, I also cultivate a great passion for music and reading (and animals!
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Crypto: Western Union is making good progress in its project
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