Meta Might Launch Crypto Change, Trademark Filings Present

Key Takeaways

  • Meta has filed 5 trademark purposes within the U.S. for its newly rebranded funds product, Meta Pay.
  • The purposes point out that the corporate might have plans to launch a slew of crypto-related services and products, together with a crypto alternate and a pockets.
  • Final week, Meta’s fintech head Stephane Kasriel stated that Meta Pay needs to supply a cross-platform “single pockets expertise.”

Meta has filed 5 trademark purposes within the U.S. for its rebranded Meta Pay funds product. The emblems point out that the corporate may very well be trying to launch a set of crypto merchandise, together with a Web3 pockets and cryptocurrency alternate.

Meta Pay’s Trademark Filings Sign Pivot to Web3

Meta’s newest trademark filings point out that it’s getting critical about Web3.

The social media large has filed 5 trademark purposes for its not too long ago rebranded funds product Meta Pay for what appears to be like to be a slew of crypto-related providers. The emblems, filed on Might 13 with america Patent and Trademark Workplace, purpose to guard Meta’s not too long ago acquired model identify “Meta Pay” in addition to its related logos and symbols pertaining to a wide range of crypto-related services and products, together with a crypto pockets, a buying and selling service, and a web based social networking service for buyers.

The trademark purposes additionally recommend that Meta Pay is trying to make a pivot into crypto lending, card, and funding providers. Notably, the purposes observe a Might 11 weblog publish wherein the agency’s fintech lead Stephane Kasriel introduced Fb Pay’s rebrand to Meta Pay. “It’s no secret that we’re very optimistic about Web3—each the applied sciences and ideas it encompasses,” he wrote, highlighting the corporate’s curiosity in crypto know-how.

Based on Kasriel, the corporate is trying to transcend conventional funds and supply a “single pockets” cross-platform expertise for its customers. He stated:

“We’re within the very early levels of scoping out what a single pockets expertise may seem like and may have extra to say additional down the road. However to interrupt down our early considering, we’re taking a look at: how one can show who you might be and carry that id into completely different experiences within the Metaverse; how one can retailer the digital items you personal and take them with you wherever you go; and how one can pay simply and with the cost technique you need, whether or not that’s to a good friend or shopping for from a enterprise or creator.”

Final week, Meta CEO Mark Zuckerberg introduced that the corporate would start testing NFTs on Instagram with plans so as to add the identical options on Fb in a while. In April, it was reported that Meta was contemplating coming into finance via small enterprise loans and launching and supporting in-app digital currencies, social tokens, and creator cash. Whereas the so-called “Zuck Bucks” are but to materialize, the agency’s newest filings present a transparent pivot towards Metaverse and Web3. 

Disclosure: On the time of writing, the creator of this piece owned ETH and a number of other different cryptocurrencies.

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