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Meta Selects Brazil to Trademark Its Crypto Services

UTC by Bhushan Akolkar · 2 min read
Meta Selects Brazil to Trademark Its Crypto Services
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As per its recent filing, Meta is looking to trademark crypto services related to trading, wallets, and exchanges platforms.

Facebook-parent Meta is now moving to overseas destinations to make its next move in crypto. As per the latest report, Meta has filed for trademark registration with Brazilian authorities to design, develop, and build hardware and software for different crypto-related services.

As per the recent filing, Meta has filed for trademark registration with the Brazilian National Institute of Industrial Property (INPI). The social media giant seeks to trademark crypto services related to trading, wallets, and exchanges platforms.

Crypto publication CoinTelegraph did a further investigation into it. The translated document revealed the specifications of the products and services that Meta wants to trademark. Thus, the translated document reads:

“Design, development and implementation of software for third-party verification services for digital currency transactions, including (but not limited to) transactions involving Bitcoin currency.”

As per details, Meta polished the application of registration last week on January 25. The latest report comes just in a week after news erupted that Meta will liquidate all its assets for itsDiem stablecoin projects. Meta arrived at this decision after three years of rigorous communication with the regulators.

A New Battle in the Metaverse

A few months back, social media giant Facebook rebranded itself to Meta suggesting a clear move in the Metaverse. The company has pledged billions of dollars worth of investment over the next decade to build the Metaverse infrastructure.

Despite facing strong regulatory hurdles, Meta has decided to proceed with these plans. Furthermore, the latest news suggests that Meta is testing the use of non-fungible tokens (NFTs) for its Facebook and Instagram platform.

Probably, Meta can also think of using these NFTs as tradable assets in its world of Metaverse. One thing is sure that Facebook’s bold move into Metaverse has forced other players to look into this industry. We have also seen several crypto projects linked to the Metaverse gaining solid traction.

Interestingly, Facebook’s tech rival Apple is also exploring the world of Metaverse. During the Q1 2022 earnings call, Apple CEO Tim Cook said that they see considerable potential in the Metaverse space. He also said that the company has been investing accordingly.

The Apple boss said:

“We’re always exploring new and emerging technologies and I’ve spoken at length about how it’s very interesting to us right now.”

Read other crypto news on Coinspeaker.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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