Visa Planning to Launch Its Own Cryptocurrency Wallet

| Updated
by Kofi Ansah · 2 min read
Visa Planning to Launch Its Own Cryptocurrency Wallet
Photo: Shutterstock

Additionally, the filings also implied that the credit card corporation may be considering a foray into the metaverse, where its name would be used in “virtual spaces in which users can interact for recreational, leisure, or entertainment purposes.”

Global financial and credit card giant Visa may be planning a deep dive into digital wallet service after filing for two trademark applications. According to trademark attorney Mike Kondoudis, the Fresno, California-based company has filed several cryptocurrency-related trademark applications, but the recent ones suggest that it intends to launch its own cryptocurrency wallet.

The Visa International Service Association reportedly filed two applications with the United States Patent and Trademark Office (USPTO) on October 22 for its character mark to be used in software “to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange” crypto assets and non-fungible tokens, or NFTs.

Additionally, the filings also implied that the credit card corporation may be considering a foray into the metaverse, where its name would be used in “virtual spaces in which users can interact for recreational, leisure, or entertainment purposes.”

“VISA has filed 2 trademark applications claiming plans for: Managing Digital, Virtual, and Cryptocurrency transactions, Digital currency + Cryptocurrency wallets, NFTs + Virtual goods, Providing virtual environments, and more,” Mike Kondoudis stated on Twitter.

Visa is no stranger to the crypto world and has been an avid supporter for years. Back in 2014, Charlie Scharf, then CEO of the company stated that there were some “interesting things about Bitcoin.”

The company has since been steadily embracing crypto and blockchain, previously partnering with crypto firms to offer credit and debit cards tied to crypto payments. In March 2021, Visa gave the green light to allow payment settlements with the help of the USD Coin.

The company also launched an NFT program last October in an effort to boost digital assets and also made a $15,000 purchase of its own “punk” from the CryptoPunk collection in August 2021 as part of an effort for “first-hand understanding of the infrastructure requirements for a global brand to purchase, store, and leverage an NFT.”

Visa’s trademark registration comes after Mastercard applied to the USPTO in April to use its logo on NFTs and in the metaverse.

Earlier this month, Visa again entered a partnership with cryptocurrency exchange FTX to roll out cryptocurrency debit cards in 40 countries.

Visa reportedly has over 1 billion Visa cards currently in circulation across the globe.

Blockchain News, Cryptocurrency news, FinTech News, News
Kofi Ansah
Author Kofi Ansah

Crypto fanatic, writer and researcher. Thinks that Blockchain is second to a digital camera on the list of greatest inventions.

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