Key Takeaways
Meta has filed 5 trademark functions within the U.S. for its newly rebranded funds product, Meta Pay.
The functions point out that the corporate could have plans to launch a slew of crypto-related services and products, together with a crypto change and a pockets.
Last week, Meta’s fintech head Stephane Kasriel mentioned that Meta Pay desires to supply a cross-platform “single wallet experience.”
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Meta has filed 5 trademark functions within the U.S. for its rebranded Meta Pay funds product. The logos point out that the corporate may very well be seeking to launch a collection of crypto merchandise, together with a Web3 pockets and cryptocurrency change.
Meta Pay’s Trademark Filings Signal Pivot to Web3
Meta’s newest trademark filings point out that it’s getting severe about Web3.
The social media large has filed 5 trademark functions for its just lately rebranded funds product Meta Pay for what appears to be a slew of crypto-related providers. The logos, filed on May 13 with the United States Patent and Trademark Office, goal to guard Meta’s just lately acquired model title “Meta Pay” in addition to its related logos and symbols pertaining to quite a lot of crypto-related services and products, together with a crypto pockets, a buying and selling service, and a web based social networking service for buyers.
The trademark functions additionally recommend that Meta Pay is seeking to make a pivot into crypto lending, card, and funding providers. Notably, the functions comply with a May 11 weblog put up through which the agency’s fintech lead Stephane Kasriel introduced Facebook Pay’s rebrand to Meta Pay. “It’s no secret that we’re very optimistic about Web3—both the technologies and principles it encompasses,” he wrote, highlighting the corporate’s curiosity in crypto know-how.
According to Kasriel, the corporate is seeking to transcend conventional funds and supply a “single wallet” cross-platform expertise for its customers. He mentioned:
“We’re in the very early stages of scoping out what a single wallet experience might look like and will have more to say further down the line. But to break down our early thinking, we’re looking at: how you can prove who you are and carry that identity into different experiences in the Metaverse; how you can store the digital goods you own and take them with you wherever you go; and how you can pay easily and with the payment method you want, whether that’s to a friend or buying from a business or creator.”
Last week, Meta CEO Mark Zuckerberg introduced that the corporate would start testing NFTs on Instagram with plans so as to add the identical options on Facebook in a while. In April, it was reported that Meta was contemplating getting into finance by way of small enterprise loans and launching and supporting in-app digital currencies, social tokens, and creator cash. While the so-called “Zuck Bucks” are but to materialize, the agency’s newest filings present a transparent pivot towards Metaverse and Web3.
Disclosure: At the time of writing, the writer of this piece owned ETH and a number of other different cryptocurrencies.
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