Visa’s trademark owner applied for its name to be used in software “to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange” crypto and nonfungible tokens (NFTs).
The major credit card firm might be planning to explore digital wallet services based on two recent trademark applications.
Based on records submitted to the United States Patent and Trademark Office on October 22, the Visa International Service Association filed two applications for its character mark to get used in the software “to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange” cryptocurrency assets and nonfungible tokens.
These filings also suggested the credit card firm might be exploring a move into the metaverse, with its namesake used in “virtual environments in which users can interact for recreational, leisure or entertainment purposes.”
VISA has filed 2 trademark applications claiming plans for:
▶️ Managing Digital, Virtual, and Cryptocurrency transactions
▶️ Digital currency + Cryptocurrency wallets
▶️ NFTs + Virtual goods
▶️ Providing virtual environments
…and more#NFT #Metaverse #Web3 #Cryptocurrency pic.twitter.com/SnTkt8jx4o— Mike Kondoudis (@KondoudisLaw) October 27, 2022
Some of the reports suggest that there are over 1 billion Visa cards in circulation around the world. The firm has previously worked with crypto companies to offer credit and debit cards linked to crypto payments. The trademark filings followed those of MasterCard, which had applied to the USPTO in April to use its logo in the metaverse and through nonfungible tokens.
Buy Bitcoin NowThe credit card firm has confirmed slow forays into the crypto space in recent years. In March 2021, Visa stated that it planned to launch a pilot program enabling its partners to use USD Coin (USDC) to settle all transactions made in fiat.
In that context, the firm also spent $150,000 to buy a cryptopunk in August 2021 as part of its effort for “first-hand understanding of the infrastructure requirements for a global brand to purchase, store, and leverage an NFT.”
