Western Union Invests in Digital Currency Group
Western Union, whose business model of money transfer could be under threat from bitcoin, is one of the new investors in Digital Currency Group (DCG). DCG is an investment firm focusing on the bitcoin/blockchain technology space. Could this herald changing times? Digital Currency Group was set up in October 2015 to focus on investments in the nascent bitcoin and blockchain technology space. Its portfolio of investments includes 70 companies across 22 countries. It has 3 subsidiaries – Genesis, Grayscale and CoinDesk. The CEO and Founder of DCG is Barry Silbert, who had earlier founded....
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The future of cryptocurrency seems to be solidified more and more every month, with the growing interest in Bitcoin technology all over the world. Bitcoin has often been referred to as the disruption of the remittance sector, due to its global availability and low fees when sending money around the world. It comes as quite a surprise to find out Western Union has invested in Digital Currency Group, a company focusing on Bitcoin and blockchain. It is always positive for any business in the world of Bitcoin and blockchain to secure additional investment. Things may seem a bit strange when an....
Western Union Chief Information Officer John "David" Thompson was interviewed by Coindesk this week and made some very revealing comments about Bitcoin, and its future in global monetary transfer. Many know Western Union as the world's largest personal monetary transfer corporation, founded way back in 1851. Operating in 220 countries worldwide, it generated almost $800M last year in net income, which is down over 20% from 2012. I wonder why it is down over $200M all of the sudden? Also read: Digital Currency Advocate: What Western Union CEO Is Missing. Western Union CIO: Bitcoin doesn't....
Frequent bitcoin- and blockchain-focused investment firm Digital Currency Group now sees Western Union as an investor in a new funding round. Money-transfer giant Western Union is Digital Currency Group’s newest investor, in a new funding round. Digital Currency Group (DCG) is also welcoming new investors to the firm in Beijing-based HCM International Co., a subsidiary of Foxconn Ltd., focused on investments and a number of funds including Gibraltar Ventures, OMERS Ventures, Horizon Kinetics, Kingsbridge Wealth Management, and Wood Investment Partners. The terms and amount of investment....
Hikmet Ersek is the CEO of Western Union. He recently published an article to CNN's Fortune Finance section with a simple title (Western Union CEO: What digital currencies are missing), harnessing his expertise from his position as CEO of an international money services company to lecture on the inadequacies of Digital Currencies. The article is the first part of a 3 part series that is still forthcoming, I look forward to seeing what else the CEO of Western Union thinks is missing from Digital Currencies. In the thesis to his argument, Ersek claims that the current digital currency....
One thing some Bitcoin community members ought to point out is how Digital Currency Group seems to be following the same path as the mainstream media by turning away from Bitcoin and focusing on the blockchain. A lot of people active in the Bitcoin world will have heard about the recent investment in Digital Currency Group by Western Union. This news has caused a lot more questions than answers, although it seems DCG has added some new advisors to their board who will help shape the future for Bitcoin and blockchain. Although there has been a lot of focus on the investment made by Western....