The social media giant Meta has filed five trademark applications for a payment platform named Meta Pay, as per records submitted to the United States Patent and Trademark Office (USPTO), on May 13.
The trademark applications describe ‘Meta Pay’ as an online social networking service for investors allowing:
- financial trades and exchange of digital currency,
- virtual currency,
- cryptocurrency, digital and blockchain assets,
- digital tokens, [and] crypto tokens
Meta, previously known as Facebook, bought the MetaPay.com domain name from the South Dakota-based MetaBank in a $60 million deal during December 2021.
In March, Meta filed for eight trademark applications related to crypto and metaverse with the USPTO. The CEO, Mark Zuckerberg said that the firm has started testing digital collectibles on Instagram, teasing a move to add non-fungible tokens.
Meta expects the number of trademark filings for crypto and virtual financial services from the social media sector to grow as the companies plan to position themselves for the financial side of the metaverse.
Meta currently manages and owns some of the major apps which include Instagram, WhatsApp, and Facebook.
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