Leading financial services providers PayPal (NASDAQ:PYPL) and Western Union (NYSE:WU) are looking to expand their cryptocurrency offerings based on new trademark applications filed by the companies last week.
Paypal Files for New Trademarks
In a bid to expand its crypto services, PayPal filed three new trademark applications with the United States Patent and Trademark Office on October 18th. The filings were announced by the popular trademark attorney Mike Kondoudis. He tweeted:
#PayPal has filed trademark applications for PAYPAL and its “overlapping Ps” logoThe apps claim plans for exchanging, trading, and processing transfers of Blockchain + digital assets Crypto + digital + virtual currencies…and more#NFTs #Metaverse #Web3 #Cryptocurrency pic.twitter.com/FadV1SiCfV— Mike Kondoudis (@KondoudisLaw) October 24, 2022
The latest applications will see PayPal adopt a new name and logo. Other applications highlight PayPal’s intention to begin exchanging, trading, and processing transfers of digital assets and cryptocurrency.
Western Union to Expand Crypto Services
Similarly, Western Union’s latest attempt to enter the cryptoverse has seen the company file three trademarks on October 18th. The filings were revealed by trademark attorney Mike Kondoudis.
According to Kondoudis, the activities covered by the applications include managing wallets, exchanging digital assets and commodities derivatives, issuing tokens of value and brokerage, and insurance services.
On the Flipside
- Mastercard (NYSE:MA) is already working with banks to connect financial institutions to the cryptocurrency market.
Why You Should Care
The latest trademarks highlight the increasing number of financial services providers looking to engage in the crypto industry.
Find out more moves from PayPal into crypto below:
Coinbase (NASDAQ:COIN) Welcomes PayPal to Its TRUST Protocol Network
Read about Western Union’s blockchain adoption in:
Western Union and MercadoLibre (NASDAQ:MELI) to Send Digital Remittances to Mexico