Western Union ready to announce its own cryptocurrency?

Western Union ready to announce its own cryptocurrency?

Western Union, one of the world leaders in cross-border payments, has just filed a series of trademark and patent applications which probably say a lot about the American company’s plans. As a result, obvious ambitions in the field of crypto payments and services. And maybe even a cryptocurrency.

western side story

It is information revealed by Mike Kondoudisprofessionals in the monitoring of trademark and patent filings: Western Union, an international payments giant, filed a series of applications on October 18 in connection with various crypto services.

Crypto Patent Filings by Western Union

In detail, WU’s request covers a wide potential scope ranging from exchange, trading or crypto custody services, to infrastructure management or digital asset insurance.

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A Western Union cryptocurrency?

If it is customary to aim broadly in terms of patents, we note with interest the mention concerning the issue of a “value token”, in other words, a homemade cryptocurrency.

Western Union’s interest in the crypto subject is not strictly speaking a novelty. Indeed, the American giant has been interested in the subject at least since 2015. At that time the company was conducting test experiments on the subject, in particular in partnership with Ripple Lab.

If the essay hasn’t been transformed since, Western Union probably hasn’t taken its eyes off the crypto horizon. Indeed, the company is perfectly aware that an entity whose main activity revolves around efficient, borderless currency transfers, and at the lowest possible costs, cannot decently ignore the revolution in the blockchain sector. .

However, the company had not really revealed its game for the time being, even taking on the bad role (and a consequent loss of turnover) as part of the adoption of Bitcoin as legal tender in El Salvador.

In this particular context, and in view of the stakes on the subject, it would however be illusory to expect Western Union to issue a speculative asset. It is thus more likely the birth of yet another stablecoin that we could witness. One more asset, ready to join the battle for Ihe economic supremacy in the context of the new digital finance.

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