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HomeNewsBusinessApplications for trademarks by Visa imply further involvement in the crypto space

Applications for trademarks by Visa imply further involvement in the crypto space

In order to utilise its name in software “to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange” crypto and NFTs, the company’s trademark owner submitted a trademark application.

The Visa International Service Association reportedly filed two applications with the United States Patent and Trademark Office (USPTO) on October 22 for its character mark to be used in software “to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange” crypto assets and nonfungible tokens, or NFTs. Additionally, it was implied by the documents that the credit card corporation may be considering a foray into the metaverse, where its name would be used in “virtual spaces in which users can interact for recreational, leisure, or entertainment purposes.”

Considering two recent trademark applications, it’s possible that major credit card provider Visa intends to investigate digital wallet services.

According to some estimates, there are more than 1 billion Visa cards in use worldwide. The business previously collaborated with cryptocurrency businesses to provide credit and debit cards linked to cryptocurrency payments. The trademark registrations came after Mastercard submitted an application to the USPTO in April to use its logo on NFTs and in the metaverse.

The credit card business has recently launched a series of gradual excursions into the cryptocurrency world. Visa announced in March 2021 that it intended to start a pilot programme that would let its partners utilise USD Coin to settle fiat transactions. In an effort to gain a “first-hand understanding of the infrastructure required for a multinational brand to purchase, store, and exploit an NFT,” the corporation also invested $150,000 to purchase a CryptoPunk in August 2021.

News Summary:

  • Applications for trademarks by Visa imply further involvement in the crypto space
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