Payments giant Visa has filed two trademark applications covering a wide range of cryptocurrency products and services, including its own crypto wallet. The filing also mentions crypto transaction management and non-fungible tokens (NFTs).
Visa’s New Trademark Application
Visa has filed two trademark applications with the United States Patent and Trademark Office (USPTO). Mike Kondodis, a USPTO-licensed trademark attorney, tweeted Thursday:
Visa has filed 2 trademark applications claiming plans to manage digital, virtual and cryptocurrency transactions, digital currency + cryptocurrency wallets, NFT + virtual goods, provide virtual environments … and more.
Filed on October 22, the serial numbers of the applications are 97643605 and 97643607. Visa International Service Association, a subsidiary of Visa Inc., is listed as the owner of the trademark.
An excerpt from one of the trademark applications reads: “Online non-downloadable software for managing digital transactions; non-downloadable virtual goods; non-downloadable virtual goods, that is, a collectable series of non-fungible tokens.” ; online non-downloadable software for use as software for digital currency wallets and storage services; online non-downloadable software for use as a cryptocurrency wallet.”
Visa has been active in the crypto space for many years. The company has partnered with over 65 crypto firms including exchanges and wallet service providers to enable crypto payments at over 80 million merchants.
In January 2021, Visa CEO Alfred Kelly revealed his company’s plans to enable crypto trading on its network. Hoping for crypto to become “extremely mainstream”, he said that Visa is diving into crypto “in a very, very big way.” In December 2021, the payments giant launched crypto advisory services. In May 2020, Visa filed a patent application for a fiat-linked cryptocurrency system using “a private licensed distributed ledger platform.”
A large number of companies have filed trademark applications related to crypto and metaverse with the USPTO. Last week, PayPal and Western Union filed trademark applications for various crypto services. Earlier this month, Formula One filed eight trademark applications for “F1” covering multiple crypto and metaverse products and services. Ford filed 19 similar trademark applications last month. E-commerce giant eBay filed two in June, Facebook owner Meta filed five in May and Mastercard filed 15 related trademark applications in April.
Will you be using Visa’s crypto wallet if it is launched? Let us know in the comments section below.
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