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Visa’s trademark applications increasingly involve cryptocurrencies

Visa's_trademark_applications_increasingly_involve_cryptocurrencies

The owner of the business’s trademark asked for permission to use its name in software that is used “to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange” crypto and NFTs.

Two recent trademark applications suggest that Visa, a major credit card company, might be interested in looking into digital wallet services.

According to documents sent to the United States Patent and Trademark Office (USPTO) on October 22, the Visa International Service Association filed two applications for its character mark to be used in software “to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange” nonfungible tokens (NFTs). The filings also suggested that the credit card company might be thinking about moving into the metaverse, with its name being used in “virtual environments where users can interact for recreation, leisure, or entertainment.”

Some reports say that there may be more than a billion Visa cards in use around the world. The company has worked with other cryptocurrency businesses in the past to link credit and debit cards to cryptocurrency payments. In April, Mastercard asked the USPTO for permission to use its logo in the metaverse and on NFTs. After those applications, the trademarks were filed.

In the past few years, the credit card company has talked about making small steps into the world of cryptocurrencies. Visa said it would start a pilot program in March 2021 that would let its partners settle fiat transactions with USD Coin (USDC ticker down $1.00). In August 2021, the company spent an extra $150,000 to buy a CryptoPunk in order to “learn from first-hand experience what infrastructure a global brand needs to buy, store, and use an NFT.”

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