Visa has finally filed trademarks for its crypto wallets and Metaverse
Credit card giant Visa has seen a major move into the crypto space by filing applications recently.
Two days ago, licensed trademark attorney Mike Kondoudis revealed the recent trademark applications for Visa.
This pointed to the likelihood of the credit card company developing or launching its own digital asset wallet.
There must have been two trademark registrations. One includes trademark registrations for software and the handling of digital, virtual and cryptocurrency transactions; the other is for wallets.
This is according to the records sent to the United States Patent and Trademark Office (USPTO) earlier this week.
The filings also hinted that Visa may plan to explore the metaverse, with its namesake used in “virtual environments where users can interact for recreational, leisure or entertainment purposes.”
If the application is approved, Visa may also offer software for handling digital transactions and auditing cryptocurrencies.
The payments giant also intends to offer virtual environments for recreational, leisure and entertainment purposes.
Visa has been associated with the crypto space
Visa has previously partnered with other firms to offer credit and debit cards linked to crypto payments.
These trademark registrations followed those of Mastercard, which had applied to the USPTO in April to use its logo in metaverse and NFTs.
In October 2021, the company revealed its NFT program to support the industry before buying its “punk” from the CryptoPunk collection.
It is a full-fledged Metaverse that does not just offer financial services in existing virtual worlds. The most recent partnership was with Blockchain.com, where it offers a crypto debit card.
Visa believes that it is necessary for Web3 adoption to grow through increased worldwide acceptance.
Through these partnerships, Visa aims to increase the speed at which crypto adoption can grow.
Other developments of Visa
Other developments from Visa in the space include the partnership with FTX, an exchange, to introduce crypto debit cards in 40 countries.
Visa is also linked to investment banking giant JP Morgan. Both organizations will work with private blockchains to help with cross-border transactions.
The year before, Visa had collaborated with close to 60 well-known crypto companies. These include Coinbase, Binance and Crypto.com.
This was done to accelerate the card programs and also to speed up Web3 adoption worldwide.
The year before, Visa CEO Charles Scharf mentioned that the firm would be open to accepting Bitcoin if there was sufficient customer demand.
This made it even clearer that Visa had plans within the room, so that the digital wallet could be on the table.
Not only Visa, other payment companies such as PayPal and Western Union are also pushing into the blockchain space.
