Skip to content

Payments giant Visa files trademarks for crypto wallets and the metaverse

Payments giant Visa files trademarks for crypto wallets and the metaverse
Paul L.

The growth of cryptocurrencies and the metaverse concept has provided traditional finance companies an opportunity to scale their operations and meet consumer demands. In this line, financial services giant Visa (NYSE: V) is the latest entity to express interest in the metaverse, hoping to offer services in the virtual world. 

In particular, the company filed two metaverse trademarks on October 22, with plans to manage digital and cryptocurrency transactions, cryptocurrency wallets, non-fungible tokens (NFTs), and digital currency, among others. 

The trademark filed before the United States Patent and Trademark Office (USPTO) was revealed by licensed trademark attorney Michael Kondoudis in a tweet on October 27. 

Furthermore, if the application is approved, Visa will also offer software for managing digital transactions and auditing cryptocurrencies. At the same time, the payment giant seeks to provide virtual environments to facilitate interaction for recreational, leisure, and entertainment. 

Visa’s involvement in crypto 

The application compliments Visa’s long involvement with the crypto sector, having launched related products. For instance, in October 2021, the company unveiled its NFT program to support the industry before purchasing its “punk” from the CryptoPunk collection. 

Furthermore, other payment companies, including PayPal (NASDAQ: PYPL), and Western Union, are also making inroads into the metaverse space. In this case, PayPal plans to offer downloadable software to buy, sell, store, and trade digital and virtual cryptocurrencies, digital assets, and tokens.

Elsewhere, Western Union intends to offer a digital trading exchange, issuing its tokens alongside facilitating its traditional money transfer business.

It is worth pointing out that the potential of the metaverse has seen more traditional sector brands warm up to the concept despite being in an infancy stage. The interest is highlighted by a recent report indicating that the total cryptocurrency-related trademark filings in the United States surpassed 3,600 between January 1 and August 31, 2022.  

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.