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Western Union has invested bitcoin accelerator Digital Currency Group (DGC) in a move simplifying its increasing interesting in bitcoin and blockchain technologies and a future in bitcoin remittances.
“Over the past six months, we have worked with our investors and other corporate partners to create new models for partnership that create value and opportunity for our portfolio companies, our investors, and the broader corporate ecosystem,” announced DCG.
DCG says its main aim is to help companies learn together and build partnerships to achieve bitcoins true potential and accelerating the development of a better financial system.
Digital Currency Group recently invested $900,000 (800k Euros) into Bitcoin remittance and utility bill payment service Bitwala with participation from the Federal Ministry of Economics, the KfW Banking Group, Carl Zeiss, Daimler, Deutsche Post DHL & Deutsche Telekom.
Based in New York City, DCG has been an active seed investor in the digital currency industry with over 60 investments in nearly 20 countries.In January, it acquired CoinDesk, a media and events company.
Other investors include Beijing-based HCM International Company, and a number of family offices, investment managers, and funds including Gibraltar Ventures, OMERS Ventures, Horizon Kinetics, Kingsbridge Wealth Management, and Wood Investment Partners.
DCG’S investors now span various segments of the financial industry, from banks to insurance companies to global money transfer and payments companies who see the potential of digital currencies and their many applications, manufacturing companies and media companies.
