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Wednesday, June 12, 2024

Meta trademark filing hints at plans for crypto payments platform

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

Based on data submitted to america Patent and Trademark Workplace, or USPTO, on Could 13, Meta filed 5 functions for its namesake for use in a platform known as Meta Pay. The filings included Meta’s title for use in a “on-line social networking service for buyers permitting monetary trades and trade of digital forex, digital forex, cryptocurrency, digital and blockchain property, digitized property, digital tokens, crypto tokens and utility tokens.”

In March, Meta filed eight trademark functions with the USPTO associated to the metaverse and blockchain know-how. CEO Mark Zuckerberg additionally mentioned on Could 9 that the corporate had begun testing digital collectibles on Instagram, signaling a transfer towards including nonfungible tokens, or NFTs. Meta at the moment controls a number of main apps together with WhatsApp, Fb Messenger and Fb.

Different corporations primarily based in america together with Gatorade producer Stokely-Van Camp, the Air Pressure, the New York Inventory Alternate, and Mastercard have filed related functions associated to doable entries into the Metaverse or in any other case increasing into the crypto house. Based on the USPTO web site, trademark functions take roughly eight months to course of a primary motion as of March.

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Since rebranding from Fb to Meta in October 2021, the social media large has introduced many initiatives aimed at extending a hand to crypto customers. Along with 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 retailer within the San Francisco Bay Space.