In the latest bid to expand its cluster in the fast-growing crypto industry, Meta, the world’s largest social media platform has reached Brazil with its trademark proposal for crypto services. Led by Mark Zuckerberg, Meta has filed a trademark registration with the Brazilian National Institute of Industry Property (NPI) to support its plans concerning Bitcoin and crypto trading ventures. With this anticipated proposal from the Brazilian authorities, Meta would be able to explore actively across the crypto field through the launch of dedicated products and tools.
With the crypto industry growing exponentially across the global financial and industrial sector, top-tier firms have started venturing into the field with innovative plans. Meta, which was formerly known as Facebook, rebranded itself with a new name and vision to strengthen its hold in the Metaverse space. The company is taking all the necessary steps to curate a powerful portfolio of digital products for the users. The strategic collaborations have helped the firm to place itself way ahead of other tech companies. The team is working on its highly-anticipated crypto wallet, Novi which aims to support a safe digital trading experience.
The trademark, if approved, will allow Meta to offer a plethora of crypto-related services to the Brazilians including wallet, trading, crypto transactions, etc. The filing did not reveal the core products that Meta would be focusing on as part of its venture. The registration document stated that the firm will focus on the creation, development, and implementation of software for third-party validation services for virtual currency transactions including Bitcoin and other tokens. The company disclosed the details of the trademark filing on January 25, 2022, and is still waiting for approval from the regulator. The publication highlighted that Meta forwarded its first filing for the trademark in October 2021 wherein the order was placed from Jamaica.
Recent times have shown the active participation of tech giants in the crypto space. Apple is working towards its entry into the Metaverse space. The company’s CEO Tim Cook recently accepted Apple’s investment in the Metaverse and this eventually gave a push to the stock price of the firm.