Meta is here with yet another update. Meta Platforms Inc., formerly Facebook filed for five trademark applications on a Friday under the name of “Meta Pay”. They appear to be dedicated to a new digital payments platform that will integrate various cryptocurrency and blockchain-related products.
Josh Gerben who is the Trademark attorney and Founder of Gerben Intellectual Property tweeted about it on Wednesday.
They filed five trademark applications for “Meta Pay” with the United States Patent and Trademark Office (USPTO). Meta’s head of fintech, Stephane Kasriel, explained last week that the company is “investing more” in its existing payments experiences, noting that it has been in payments since 2009.
“Today, people and businesses use our platforms to make payments in 160 countries and 55 currencies,” Kasriel wrote, elaborating: The experience that people see today is Facebook Pay, but we’ll be bringing that closer to the Meta brand soon by renaming it Meta Pay.
In March, Meta filed eight trademark applications for its logo covering the metaverse as well as a wide range of cryptocurrency services.
According to Meta, Meta Pay is described as an “online social investment network.” It will allow users to conduct trades using digital currencies, blockchain assets, and crypto tokens while providing user authentication and identity validation services.
Another description has called it “downloadable computer software” designed for “e-commerce”, including ordering and purchasing goods and services. Once again, it makes mention of “validating cryptocurrency transactions using blockchain technology,” and even serving as a cryptocurrency wallet.
Meta only recently abandoned work on its digital wallet NOVI, alongside its multi-year stablecoin project Diem. Many of its former developers fled towards other blockchain projects shortly after, with the former head recently announcing a shift to Bitcoin development.
However, Meta’s CEO Mark Zuckerberg maintains his fascination with the “metaverse” – a concept of virtual reality heavily supported by blockchain, cryptocurrencies, and NFTs. Nevertheless, the trademark filings for MetaPay make no mention of the “metaverse”, staying focused on blockchain and digital assets.