Visa is ready to get more involved in the crypto space after its recent investment in CryptoPunk
With Visa's trademark owner applying for two applications pertaining to crypto, we might see the credit card company expanding its reigns in the crypto space
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Considering two recent trademark applications, it's possible that major credit card provider Visa intends to investigate digital wallet services.
The Visa International Service Association reportedly filed two applications with the United States Patent and Trademark Office (USPTO) on October 22 for its character mark to be used in software "to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange" crypto assets and non-fungible tokens (NFTs).
Additionally, it was implied by the documents that the credit card corporation may be considering a foray into the metaverse, where its name would be used in "virtual environments in which users can interact for recreational, leisure, or entertainment purposes."
According to Mike Kondoudis, "VISA has filed 2 trademark applications claiming plans for: Managing Digital, Virtual, and Cryptocurrency transactions, Digital currency + Cryptocurrency wallets, NFTs + Virtual goods, Providing virtual environments...and more#NFT #Metaverse #Web3 #Cryptocurrencyâ€
Some estimates say more than 1 billion Visa cards are used worldwide. The business previously collaborated with crypto businesses to provide credit and debit cards linked to crypto payments. In 2019, there were 45 billion general-purpose credit card transactions in the United States (based on cards issued by the four major networks - Visa, Mastercard, American Express, and Discover), totalling nearly $4 trillion in dollar volume.
