Western Union Invests in Digital Currency Group

[panju1]

I think it's a purely cosmetic move by Western Union. Not convinced that they will survive crypto disruption given their fat margin induced cost structures.

They have a dilemma - keep charging fat fees until the competition overtakes you, or let go of your profits and evolve.
Not many organizations make the right decision.

[Boosterious]

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?
About Digital Currency Group

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 SecondMarket.

The amount invested by Western Union in DCG has not been disclosed.

Full read: http://cointelegraph.com/news/western-union-invests-in-digital-currency-group

Hahaha I can't stop laughing at.

Not sure if that was true,but cointelegraph is agood bitcoin news portal,this is will not change anything,but give us and some people who love western union a good effect,more better technology will make western union better,and bitcoin will more popular because that.

[Cyaren]

Western Union is an outdated system. There is no wonder why they would invest in one of its rival businesses.

"If you can't beat them, join them"

[DimensionZ]

Western Union is an outdated system. There is no wonder why they would invest in one of its rival businesses.

"If you can't beat them, join them"

Yeah but Western Union don't have to essentially buy anything because the Blockchain technology is open-source and they can just scoop it up and develop their new infrastructure free of charge. It will be interesting to see how they will incorporate the fiat features into it and how successful it will be compared to Bitcoin.