Meta is not giving up on cryptos and files patents for “Meta Pay”

Payment 3.0 – Facebook had had to mourn the stablecoin DIEM, but Meta seems to always want to go further in cryptocurrencies. The company has indeed filed trademark applications that reveal its new crypto ambitions.

Meta filed on May 13, 2022, five trademark applications in the United States, for its Meta Pay platform.

Meta had purchased the domain name for $60 million, from MetaBank, based in South Dakota. This trademark application therefore seems to be a logical continuation of this transaction.

Meta Pay would provide ” financial transaction processing services “. It would thus make it possible to carry out “commercial transactions” and would offer “secure payment options”.

Posted by Josh Gerben – Source: Twitter

Meta Pay would also offer the services of a stock exchange for trading :

“digital currency, virtual currency, cryptocurrencies, digital and blockchain assets, digitized assets, digital tokens, crypto tokens and utility tokens”.

Meta Pay could additionally offer digital asset investing and lending services.

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Rebranding in 3.0 mode for Facebook Pay

Although the craze for cryptocurrencies, the blockchain, the metaverse, and the NFTs, are recent, Stephane Kasriel indicated in his article on Medium of May 11, 2022, that Meta is present ” in the payments industry since 2009 “.

Stephane Kasriel holds the position of leading commerce & financial technologies within Meta. Meta Pay is none other than a rebranding of Facebook Pay, plus a deeper dive into cryptocurrencies. 160 countries and 55 currencies would use Meta’s platforms to make payments:

“This includes person-to-person, business-to-business and business-to-consumer payments”

Stephane Kasriel indicated that Meta was looking to “further simplify the payment experience” on its platforms. This simplification would aim to benefit individuals and businesses benefits of interoperability in the metaverse “.

Stephane Kasriel mentioned the idea of ​​a ” single wallet that people can use to represent who they are, what they own and how they pay”. However, this portfolio would only be “at the very beginning of the study” for the moment.

How far will Meta go in its ambitions to conquer web3? Instagram could soon iIntegrate Ethereum (ETH) and Solana (SOL) NFTs. While Meta Pay could allow Metaverse users of Meta to make payments in this virtual world.

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