Meta Files for Five Patents and Hints at Launching Crypto-Supported Payments Platform
Meta Pay is rumored to be a cryptocurrency-friendly payment platform from Meta. The parent company of social media behemoths Facebook and Instagram has submitted five patent applications with the US Patent and Trademark Office (USPTO).
Meta is looking for licenses to operate as a “online social networking service for investors that allows financial trades and exchange of digital currency, virtual currency, cryptocurrencies, digital and blockchain assets, digitised assets, digital tokens, crypto tokens, and utility tokens.”
While Meta has not provided any specifics about the latest filings, trademark attorney Josh Gerben has uploaded screenshots of them on Twitter.
Meta Platforms Inc. (i.e. Facebook) has filed 5 new trademark applications for:
"META PAY"
The filings indicate that @Meta plans to launch a payment platform called "META PAY" for users to exchange old-fashioned regular money and cryptocurrencies.#Meta $FB#Metaverse pic.twitter.com/W2ObxgAWfl
— Josh Gerben (@JoshGerben) May 18, 2022
These new applications, filed on May 13, come roughly a month after Meta applied for eight more licenses, aiming to expand its Web3 footprint, which includes the metaverse.
According to the documents, the company could launch new social networking platforms, computer software, e-commerce services, telecom services for digital asset holders, and a metaverse-focused advertising platform.
Meta announced earlier this month that it is working on NFT-related capabilities for Instagram. The popular photo-messaging app will soon enable non-fungible tokens (NFTs) based on Ethereum, Polygon, Solana, and Flow blockchains.
Mark Zuckerberg‘s social networking behemoth Facebook announced a new rebranding under the moniker Meta on November 1, 2021.
These new applications, filed on May 13, come roughly a month after Meta applied for eight more licenses, aiming to expand its Web3 footprint, which includes the metaverse.
According to the documents, the company could launch new social networking platforms, computer software, e-commerce services, telecom services for digital asset holders, and a metaverse-focused advertising platform.
Meta announced earlier this month that it is working on NFT-related capabilities for Instagram. The popular photo-messaging app will soon enable non-fungible tokens (NFTs) based on Ethereum, Polygon, Solana, and Flow blockchains.
Mark Zuckerberg’s social networking behemoth Facebook announced a new rebranding under the moniker Meta on November 1, 2021.
This rebranding was designed to reflect the company’s desire to embrace the Web3, a next phase of the Internet that relies heavily on blockchain.
Meanwhile, Meta isn’t the only major corporation getting into the Web3 game.
Several more brands have recently submitted trademark applications in the US for the Web3 space. American Express, Slim Jim, and the New York Stock Exchange are among them.
