behemoth in the financial services industry Visa has submitted two trademark applications to the USPTO related to cryptocurrencies with the aim of controlling bitcoin transactions and creating a virtual environment “in which users can connect for recreational, leisure, or entertainment purposes.”
The applications were submitted on October 22 and made public by Washington-based trademark lawyer Mike Kondoudis on October 27. The company intended to release cryptocurrency wallets and software for auditing coins.
The applications additionally demonstrated that the company has Non-Fungible Tokens (NFTs) and other digital collectibles on its radar since it intends to offer temporary access to non-downloadable software so users can view, access, store, and send them.
Visa’s involvement with cryptocurrencies began in 2014, when Charlie Scharf, the company’s previous CEO, saw that Bitcoin had some “interesting things” going for it. Alfred Kelly, the company’s current CEO, stated early last year that cryptocurrency may become “very popular” in the following five years, adding that even though that was not the case, he still wanted to make sure the company remained at the forefront of the crypto revolution.
It began offering crypto advising services in December 2021 in an effort to inform more clients about the emerging asset class. The company launched a program to aid producers in navigating NFTs after purchasing a $150,000 Crypto Punk NFT for its corporate collection in August of last year. Visa and FTX teamed up earlier this month to assist the exchange launch FTX-branded debit cards for the markets in Latin America, Asia, and Europe.
Having said that, Visa is not the only organization that has experimented with the cryptocurrency market. With Western Union and Paypal submitting trademarks for several crypto services just last week, the number of businesses filing trademark applications linked to cryptocurrencies with the USPTO has been increasing.
It began offering crypto advising services in December 2021 in an effort to inform more clients about the emerging asset class. The company launched a program to aid producers in navigating NFTs after purchasing a $150,000 Crypto Punk NFT for its corporate collection in August of last year. Visa and FTX teamed up earlier this month to assist the exchange launch FTX-branded debit cards for the markets in Latin America, Asia, and Europe.
Having said that, Visa is not the only organization that has experimented with the cryptocurrency market. With Western Union and Paypal submitting trademarks for several crypto services just last week, the number of businesses filing trademark applications linked to cryptocurrencies with the USPTO has been increasing.
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