Thursday, December 1, 2022

Meta trademark filing hints at plans for crypto payments platform


Social media large Facebook’s dad or mum firm, Meta, could also be planning to launch a payments platform with assist for cryptocurrency. 

According to information submitted to the United States Patent and Trademark Office, or USPTO, on May 13, Meta filed 5 functions for its namesake for use in a platform known as Meta Pay. The filings included Meta’s identify for use in a “online social networking service for investors allowing financial trades and exchange of digital currency, virtual currency, cryptocurrency, digital and blockchain assets, digitized assets, digital tokens, crypto tokens and utility tokens.”

In March, Meta filed eight trademark applications with the USPTO associated to Metaverse and blockchain know-how. CEO Mark Zuckerberg additionally stated on May 9 that the corporate had begun testing digital collectibles on Instagram, signaling a transfer towards adding nonfungible tokens, or NFTs. Meta presently controls a number of main apps together with WhatsApp, Facebook Messenger and Facebook.

Other corporations primarily based within the United States together with Gatorade producer Stokely-Van Camp, the Air Force, the New York Stock Exchange, and Mastercard have filed similar applications associated to attainable entries into the Metaverse or in any other case increasing into the crypto house. According to the USPTO web site, trademark functions take roughly eight months to course of the primary motion as of March.

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Since rebranding from Facebook to Meta in October 2021, the social media large has introduced many initiatives seemingly aimed at extending a hand to crypto customers. In addition to its work on-line, Meta additionally not too long ago expanded its real-world presence with the opening of a brick-and-mortar metaverse-themed retail store within the San Francisco Bay Area.