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Meta trademark submitting hints at plans for crypto funds platform

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Social media large Facebook’s guardian firm, Meta, could also be planning to launch a funds 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 title to be used in a “on-line social networking service for traders permitting monetary trades and trade of digital foreign money, digital foreign money, cryptocurrency, digital and blockchain belongings, digitized belongings, digital tokens, crypto tokens and utility tokens.”

In March, Meta filed eight trademark functions with the USPTO associated to Metaverse and blockchain expertise. CEO Mark Zuckerberg additionally stated on May 9 that the corporate had begun testing digital collectibles on Instagram, signaling a transfer towards including 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 comparable functions associated to attainable entries into the Metaverse or in any other case increasing into the crypto area. According to the USPTO web site, trademark functions take roughly eight months to course of the primary motion as of March.

Related: Meta’s Reality Labs posts $2.9B loss: ‘I acknowledge it’s costly,’ says Zuck

Since rebranding from Facebook to Meta in October 2021, the social media large has introduced many initiatives seemingly geared toward extending a hand to crypto customers. In addition to its work on-line, Meta additionally just lately expanded its real-world presence with the opening of a brick-and-mortar metaverse-themed retail retailer within the San Francisco Bay Area.

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