Meta files 5 trademark applications for crypto and digital payment platform
In March, Meta had filed eight trademark applications for services including metaverse, crypto tokens, cryptocurrencies, blockchain software, crypto exchanges, and crypto trading.
Social media giant Meta has submitted five trademark applications for a digital assets trading and payment platform called Meta Pay.
As per the records submitted to the United States Patent and Trademark Office, (USPTO) the company described Meta Pay as an "online networking service for investors allowing financial trades and exchange of digital currency, virtual currency, cryptocurrency, digital and blockchain assets, digital tokens, and crypto tokens.
USPTO-licensed trademark attorney Josh Gerben took to Twitter to announce Meta's trademark submission.
ALSO READ
As per the records, in addition to payment and trading, Meta Pay might offer digital asset financing and investing services. In December 2021, the social media giant paid $60 million for the MetaPay.com domain name and acquired it from the South Dakota-based MetaBank.
Previously, in March, the company had filed eight trademark applications for services including metaverse, crypto tokens, cryptocurrencies, blockchain software, crypto exchanges, and crypto trading.
On May 9, the company announced plans to begin testing non-fungible tokens (NFTs) on Instagram and earlier the company had ventured into stablecoin project Diem, but it failed to gain traction due to strong criticism from regulators around the world.
The assets from that project were ultimately sold to Silvergate, a bank based in the United States.
Edited by Saheli Sen Gupta
