Visa Files Crypto-Focused Trademarks
- Visa recently announced a partnership with Blockchain.com to provide debit cards to US residents.
- The company also struck a deal with FTX to provide debit cards to 40 countries.
- Visa seems set to take advantage of the budding digital payment market.
The credit card company, Visa, has announced several partnerships with crypto projects that signal its interest in the space. In addition, the company’s recent trademark application could indicate its intention to explore the digital wallet space.
As per a Cointelegraph report, the Visa International Service Association filed two applications with the United States Patent and Trademark Office. The company plans to have its character mark used in software “to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange” digital assets such as NFTs or cryptocurrency. The documents also showed that the credit card giant might be considering a venture into the metaverse, joining a growing list of organizations to make such a move.
Visa remains one of the biggest credit card providers, with an estimated 1 billion cards in circulation. As the crypto world advances digital payments, the payment platform has collaborated with some crypto firms to provide credit and debit cards linked to cryptocurrency payments.
Visa recently partnered with Blockchain.com to provide debit cards to US residents, which they would use to pay for items via crypto or cash at areas where Visa is accepted. The partnership comes weeks after Visa announced a deal with FTX to offer debit cards to 40 countries, focusing on Europe, Asia, and Latin America.
Visa is one of the many traditional financial institutions making the switch to cryptocurrency. The company’s decision to strike deals with crypto firms and its metaverse ambition suggests that Visa could play a more significant role.
While crypto trading has been affected by the bear market, payment through cryptocurrencies has significantly increased. Several countries are also allowing citizens to make purchases with cryptocurrency, meaning a new market is opening in these countries. Visa and its rival, Mastercard, could be set to cash in on the budding world of digital payments.
I have covered some exciting stories in my career as a journalist and find blockchain-related stories very intriguing. I believe Web3 will change the world and want everyone to be a part of it.
