Visa Files Trademark Applications For Different Crypto Products

Two trademark applications have been filed Visa that covers a wide array of crypto products and services, which includes the payments giant’s own crypto wallet.

The filings also contain a mention of non-fungible tokens (NFTs) and crypto transaction management.

Trademark applications

Two trademark applications were recently submitted to the United States Patents and Trademark Office (USPTO).

A trademark attorney licensed by the USPTO, Mike Kondoudis tweeted on Thursday to reveal the applications that Visa had filed.

He said that the payments giant has applications related to crypto wallets and digital currency, managing virtual, digital and crypto transactions, virtual goods and NFTs, providing virtual environments and a lot more.

The applications were filed by the payments firm on October 22nd, 2022 and the owner of the two trademarks was listed as one of Visa Inc.’s subsidiaries, Visa International Service Association.

One of the trademark applications said that it was for online software that was non-downloadable and was aimed at managing digital transactions and non-downloadable virtual goods.

These included a series of non-fungible tokens. In addition, the application also mentioned a digital currency wallet, along with software offering storage services.

Crypto activities

It should be noted that Visa has been part of the crypto market for quite some time. It has entered into a partnership with about 65 companies that are operating in the crypto space.

These include wallet service providers and crypto exchanges, which have allowed Visa to offer crypto payment services at about 80 million merchants.

Alfred Kelly, the chief executive of Visa, revealed the plan of the company about offering crypto trading via its network back in January of last year.

He said that Visa had anticipated that crypto would become mainstream and this had prompted it to dive into the crypto market in a major way.

The payments giant had begun offering crypto advisory services to its clients in December 2021. The company had also filed a patent application in May 2020 for a crypto system linked to fiat that used a distributed ledger platform privately permissioned.

Increasing applications

It is important to note that Visa is certainly not the only company to have filed trademark applications related to the metaverse and cryptocurrency with the USPTO.

There has been an increasing number of companies that have done so recently, which indicates just how mainstream crypto is becoming.

Just last week, Western Union and PayPal also submitted their respective trademark applications to the USPTO relating to a host of crypto services.

Likewise, eight trademark applications were also filed by Formula One earlier this month for ‘F1’ and these covered numerous crypto and metaverse related products and services.

In the same vein, last month had seen 19 trademark applications were submitted by Ford. Two were also filed in June by e-commerce firm eBay.

In April, MasterCard, Visa’s competitor, had also stepped up and filed about 15 trademark applications related to crypto, while Facebook’s owner, Meta had filed five applications in May.