Visa's trademark purposes counsel extra involvement in crypto area


Main bank card firm Visa could also be planning to discover digital pockets companies primarily based on two current trademark purposes. 

In response to data submitted to the USA Patent and Trademark Workplace on Oct. 22, the Visa Worldwide Service Affiliation filed two purposes for its character mark for use in software program “to view, entry, retailer, monitor, handle, commerce, ship, obtain, transmit, and alternate” crypto property and nonfungible tokens, or NFTs. The filings additionally advised the bank card firm could also be exploring a transfer into the metaverse, with its namesake utilized in “digital environments by which customers can work together for leisure, leisure or leisure functions.”

VISA has filed 2 trademark purposes claiming plans for:

▶️ Managing Digital, Digital, and Cryptocurrency transactions
▶️ Digital foreign money + Cryptocurrency wallets
▶️ NFTs + Digital items
▶️ Offering digital environments
…and extra#NFT #Metaverse #Web3 #Cryptocurrency

— Mike Kondoudis (@KondoudisLaw) October 27, 2022

Some reviews counsel that there are greater than 1 billion Visa playing cards in circulation around the globe. The corporate has beforehand partnered with crypto companies to supply credit score and debit playing cards tied to crypto funds. The trademark filings adopted these of Mastercard, which utilized to the USPTO in April to make use of its emblem within the metaverse and thru NFTs.

Associated: Western Union could also be planning to increase its digital choices far past remittances

The bank card firm has introduced gradual forays into the crypto area lately. In March 2021, Visa mentioned it deliberate to launch a pilot program permitting its companions to make use of USD Coin (USDC) to settle transactions made in fiat. The corporate additionally spent $150,000 to amass a cryptopunk in August 2021 as a part of an effort for “first-hand understanding of the infrastructure necessities for a world model to buy, retailer, and leverage an NFT.”

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