Meta has filed five applications with the US Patent and Trademark Office (USPTO) for the name “Meta Pay,” which involves bitcoin payments.
With the demise of the Diem project, formerly Libra, this announcement feels familiar.
On March 13, Meta filed five applications with the United States Patent and Trademark Office (USPTO) to obtain the name “Meta Pay”:
A reconciliation between this future service and the trading of non-fungible tokens (NTF) on the Metaverse to come is possible by studying the details presented.
Indeed, we locate the following explicit reference:
“An online social networking service for investors enabling financial transactions and the exchange […] of cryptocurrency. »
Meta Platforms Inc. (i.e. Facebook) has filed 5 new trademark applications for:
The filings indicate that @Meta plans to launch a payment platform called “META PAY” for users to exchange old-fashioned regular money and cryptocurrencies.#Meta $FB#Metaverse pic.twitter.com/W2ObxgAWfl
— Josh Gerben (@JoshGerben) May 18, 2022
This operation is thus a continuation of the one launched in December when the company paid $60 million to a South Dakota bank for the domain name “metapay.com.”
Meta’s experience with bitcoin payments is reminiscent of Libra, which was rebranded Diem and subsequently sold to Silvergate.
Although the establishment of a full-fledged blockchain has not been expressly declared at this time, the “Meta Pay” trademark registration carrying the serial number 97409239 indicates that the company’s aim extends beyond a basic virtual world.
This conclusion is based on three factors:
- delivering computer software for digital currency transaction administration and certification;
- Providing software for the development of a decentralized, open-source cryptocurrency for use in blockchain transactions;
- provision of software for smart contract generation and management