- To unlock its limited access in cryptoverse, Western Union filed three trademark applications.
- Viking Cruises filed trademark applications to provide NFT and metaverse offerings.
- Both the companies filed trademarks on the same day, i.e. October 18.
Western Union has filed trademark applications on October 18, which show its interest in offering crypto services. This could be termed the company’s recent attempt to make a move into the cryptoverse.
Talking about the activities mentioned in the applications, they include handling wallets, issuing tokens of value, insurance & brokerage services and exchanging digital assets as well as commodities derivatives.
#WesternUnion has filed 3 trademark applications claiming plans for— Mike Kondoudis (@KondoudisLaw) October 25, 2022
▶️ Financial + Banking + Insurance
▶️ Virtual currency exchange + transfer
▶️ Commodity and Crypto trading + brokerage
▶️ Issuing tokens of value
…and much more#Web3 #Metaverse #Cryptocurrency #NFT #DeFi pic.twitter.com/YvKysvj3mq
Western Union is expected to provide remittance services and a lot more in the crypto market like mentioned above. All in all, the company has taken a step into a challenging and crowded field that has been recently joined by big names such as Mastercard and PayPal.
In 2015, the company joined Ripple with an intent of settling payments of remittances; however, the collaboration never went beyond the test phase. After three years, Western Union announced not adding crypto transfers in its bucket of services in the coming future.
Still continuing to examine and engage with electronic wallets, Western Union collaborated with Coins.ph, a blockchain platform, to improve its offerings in the Philippines along with technical assistance from Thunes.
The same day, i.e. October 18, Viking Cruises also filed 16 trademark applications with plans to offer non-fungible tokens, digital goods marketplaces, virtual tours, foods, travel & drinks as well as software to sell, purchase, trade and make digital media, NFTs and digital goods.
#VikingCruises has filed 16 trademark applications claiming plans for:— Mike Kondoudis (@KondoudisLaw) October 25, 2022
▶️ Virtual foods + drinks + travel + tours
▶️ Digital goods marketplaces
▶️ Software for creating, selling, buying, and trading NFTs + digital media + digital goods#NFTs #Metaverse #Web3 #Cruises pic.twitter.com/m6pAgCb6xd