Meta trademark filing shows plans for crypto-supported payment platform

Meta Inc (formerly Facebook) plans to launch a crypto-enabled payments platform. In a filing to the United States Patent and Trademark Office (USPTO), Meta has filed five applications for a new platform it calls “Meta Pay.” According to trademark attorney Josh Gerben on Twitter, the filings indicate that Meta is planning to launch a payment platform called “META PAY” for users to exchange regular money and old cryptocurrencies.

The applications are seeking licenses to “act as” an online social networking service for investors allowing financial trading and exchange of digital currencies, virtual currencies, cryptocurrencies, digital and blockchain assets, digital assets, digital tokens, crypto tokens and utility tokens. “

Earlier this month, Instagram said that its users will now be able to Showcase their blockchain art In the form of non-fungible tokens (NFTs) on the platform. Meta-owned Instagram will integrate with the Ethereum, Polygon, Solana, and Flow blockchain networks to facilitate this. Users will have to add their crypto wallets like Metamask and prove ownership of the NFT before it can be offered on the platform.

In March, Mark Zuckerberg, CEO of Meta Inc. Instagram is exploring plans to add NFTs to the platform. “We’re working on bringing NFTs to Instagram in the near term,” Zuckerberg said while speaking at a session in Southwest Engadget.

However, he did not say how Meta wants to implement NFT on its platforms. “Over the next several months, being able to bring in some of your own NFTs, hopefully over time will be able to mint things within that environment,” Zuckerberg was quoted as saying by The Verge.

In January, the Financial Times reported Report Meta said it is exploring plans to allow users to create, display and sell NFTs on Facebook and Instagram. Notably, Instagram leader Adam Mosseri said in December last year that his social network was “actively exploring” NFTs. He said, “There is nothing to announce yet, but we are certainly actively exploring NFT technologies and how we can make them more accessible to a wider audience.” Prior to that, Zuckerberg also spoke in October about how to use a file metaverse You will need to support “ownership of digital goods or NFTs.”

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