In the US, Meta, formerly Facebook, has filed five trademark applications for what appears to be a new digital platform called Meta Pay.

Meta Pay was defined in the trademark applications filed on May 13 as a,

“online social investment network in the form of online social networking services in the field of investments”

Additional descriptions included “online social networking service for investors that enables financial transactions and exchange of digital currency, virtual currency, cryptocurrency” and “provides a website with information on the development of privacy, security, blockchain and distributed ledger, and data governance law; regulatory compliance consulting on digital currency, “.

Registration of the Meta Pay mark of Meta on the website of the United States Patent and Trademark Office

According to the trademark petition, Meta Pay could provide digital asset financing and investment services in addition to payment and trading.

Meta’s most recent crypto-related move comes after the company revealed its intentions to start testing NFTs on Instagram earlier this month.

Meta had previously filed eight trademark applications for its logo, claiming the move was part of the company’s shift to the digital economy. These initiatives are off to a shaky start, with the corporation claiming that its metaverse-focused arm, Reality Labs, lost more than $10 billion last year.

Diem, the company’s stablecoin concept, failed to gain traction due to intense criticism from authorities around the world. The project assets were eventually sold to Silvergate, a bank located in the United States.

In December 2021, the social media giant paid $60 million for South Dakota-based MetaBank’s domain name.

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This post Meta Trademarks for “Meta Pay” Hint at Plans for a Crypto Payments Platform

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