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Western Union completes acquisition of Singapore digital wallet Dash
Western Union announced the completion of its acquisition of the digital wallet Dash, which is owned by Singapore Telecommunications. This transaction gives Western Union its first digital wallet in the Asia-Pacific region and is an important part of its Beyond strategy.
Founded in 2014, Dash has over 1.4 million users in Singapore and offers services such as bill payments, overseas remittances, savings, investments, and insurance. Western Union stated that integrating Dash will allow its customers in Singapore to connect more directly to its global network, which covers over 200 countries and regions. Vince Tallent, head of Western Union's Asia-Pacific region, stated that the combination of Dash's local customer base with Western Union's global network will help provide more seamless services. The specific amount of the transaction has not been disclosed.
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