Meta Introduces Trademark Applications under Meta Pay

On 13th May, the owner of Meta ( formerly known as Facebook)- Meta Platforms Inc. filed five trademark applications under Meta Pay.

The filed applications have described Meta Pay as an Online Social Investment Network. Which will help the traders in trading with the blockchain assets, digital currencies, and crypto tokens. It will also provide authentication and identity validation to the user.

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This downloadable computer software is also applicable to e-commerce and will help in purchasing goods and services. It will work as a crypto wallet. It also validates the blockchain technology for cryptocurrency transactions.

Recently the platform has stopped working for NOVI, a digital wallet under Meta. It also abandoned working for the stablecoin Diem as the former head announced a shift to the development of Bitcoin and many of the investors backed out from the project.

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The filing of Meta Pay does not contain the idea of Metaverse. But the idea of Metaverse, the virtual reality concept constructed with blockchain, cryptocurrency, and NFTs is still alive in the CEO’s (Mark Zuckerberg) fascination.

The filed documents also suggest that the service it will provide might compete with large exchanges like Binance and Coinbase.

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Anupama Das

An active reader and follower of news. A budding journalist tries to spread authentic news to people.

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