Meta introduces application to register the brand ‘Meta Pay’, a possible platform for crypto payments – DiarioBitcoin

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Meta introduces application to register the brand 'Meta Pay', a possible platform for crypto payments - DiarioBitcoin For Hannah Perez

Documents filed with the UPSTO in the US suggest that Zuckerberg’s company is evaluating offering a new line of cryptocurrency services.

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Goalthe technology company behind the giant social network Facebookfiled several applications for trademarks and patents that suggest an interest in carving out a place within the cryptocurrency industry.

Mark Zuckerberg’s company filed a total of five applications to register in the United States the Mark “Target Pay“, which clearly appears to be a platform for digital payments and cryptocurrencies. The documents can be viewed from the Web page of the United States Patent and Trademark Office (UPSTO).

The American lawyer, Josh Gerben, specializing in trademark and patent matters, first announced the news in a tweet of this Wednesday. the news agency The Block also collected the information.

The applications, which were filed on May 13, 2022, mention a payment platform that would allow users to store and exchange digital currencies. For example, the request No. 97409239 describes to Target Pay as a

software for sending, receiving, accepting, buying, selling, storing, transmitting, trading and exchanging digital currency, virtual currency, cryptocurrencies, digital and blockchain assets, digitized assets, digital tokens, cryptographic tokens and utility tokens.

In addition to payment and commercial services, Target Pay it could also include digital asset lending and investment services, according to other details in one of the trademark filings. At the same time, it suggests that the financial services line could become part of its social media ecosystem, which includes Facebook, Instagram and the messaging app WhatsApp.

An “online social networking service for investors that allows financial operations and exchange of digital currency“says one of the documents about Target Pay.

Meta tries again, this time with ‘Meta Pay’

Meta had previously acquired the domain name MetaPay.com that belonged to MetaBankbased in South Dakota, in a $60 million deal in December 2021, as recalled The Block.

At the time of editing, Goal It has not made any official announcement about the brand, nor has it advanced plans for a cryptocurrency trading services platform. However, the efforts appear to be in tune with the company’s broader strategy of entering the digital economy space.

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At the end of last year, Facebook changed his name to Goal as part of a strategy to lead the business of the metaverse. Since then, the company has made several announcements about exploring this growing sector. Among them, Goal has advanced that it is working to incorporate tokens non-fungible (NFT) to their platforms Instagram Y Facebook.

Recall that the social media giant had already tried to enter the crypto space with a native cryptocurrency project, which was initially called Pound, but soon faced heavy scrutiny from regulators. The project was later transformed into a stablecoin and rebranded as diem, though it was never able to get off the ground due to regulators’ reluctance. This year, Goal sold project assets to US bank silvergate.

It should be noted that the registration of patents before the UPSTO does not necessarily mean that a company will effectively pursue plans that are expressed in said applications, nor that a formal offer of the products mentioned therein will be made. It will be necessary to wait to know more about the intentions of Goal to enter the cryptocurrency space.


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Article by Hannah Estefanía Pérez / DailyBitcoin

Unsplash image edited in Canva

WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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