Visa Files Trademark Applications for Crypto Wallets, NFTs and the Metaverse

The move follows that of other large corporations and payment companies including American Express.

AccessTimeIconOct 28, 2022 at 8:12 p.m. UTC
Updated Oct 28, 2022 at 9:26 p.m. UTC

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

Payments giant Visa (V) filed two trademark applications to the United States Patent and Trademark Office (USPTO) related to digital wallets, non-fungible tokens and the metaverse.

Part of one of the applications applies for trademarks related to software for “management of digital transactions; use as a digital currency wallet and storage services software; use as a cryptocurrency wallet; and managing and verifying cryptocurrency transactions using blockchain technology," while another one is an application related to “providing temporary use of non-downloadable software for users to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange digital currency, virtual currency, cryptocurrency, digital and blockchain assets, and non-fungible tokens (NFT)."

Other parts of the applications relate to “non-downloadable virtual goods” and “a collectible series of non-fungible tokens," as well as “providing virtual environments in which users can interact for recreational, leisure or entertainment purposes accessible in the virtual world.”

The applications were filed on Oct. 22.

Visa’s applications shouldn’t surprise as they come after many large firms, including American Express and the New York Stock Exchange have filed similar applications over the past year.

In 2020, Visa filed a patent application for a process for turning physical fiat currency into a newly digitized version.

"At Visa, we are continually exploring technologies that might lead to new payment innovations and greater financial inclusion, a company spokesperson told CoinDesk by email on Friday. The spokesperson added that "each year we seek patents for hundreds of new ideas. While not all patents will result in new products or features, Visa respects intellectual property and we are actively working to protect our ecosystem, our innovations and the Visa brand."

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Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

CoinDesk - Unknown

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.