Mark Zuckerberg just can’t leave it alone! The social media company, despite many best efforts to launch a payments platform, has now submitted trademark applications for a digital assets trading and payment platform called Meta Pay.
Meta has in fact submitted five trademark applications in the US for what appears to be “new” digital platform dubbed Meta Pay.
The trademark applications, filed on May 13, described Meta Pay as an “online social networking service for investors allowing financial trades and exchange of digital currency, virtual currency, cryptocurrency, digital and blockchain assets, digital tokens, [and] crypto tokens.”
Apart from payment and trading, Meta Pay could also include digital asset lending and investment services, per other details in the trademark filing.
Meta has previously acquired the MetaPay.com domain name from the South Dakota-based MetaBank in a $60 million deal in December 2021.
Facebook Pay will soon be renamed Meta Pay, according to a blog post written by Meta’s head of FinTech, Stephane Kasriel.
With the rebrand, the company is focusing on enhancing the payments experiences it already provides with Facebook Pay in regions where it’s seeing good adoption, as opposed to focusing on expanding to new countries.
Meta is also exploring how it can further simplify the payments experience across its platforms to make payments easier to access and process in the metaverse.
Kasriel noted that Meta is in the “very early stages” of considering what a single wallet experience may look like.
He outlined that in terms of its early thinking, Meta is looking at how you prove who you are and carry that identity into different experiences in the metaverse.
Lest we forget, here is a brief history of the Meta in payments so far.
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