Media report on Visa’s plans to launch its own crypto wallet

According to the trademark application, the company will also release its own NFT and virtual environment for customers

28.10.2022 - 07:30

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2 min

What’s new? Licensed trademark attorney Mike Kondoudis has reported on his Twitter account that payment company Visa has filed trademark applications related to cryptocurrencies. In particular, the corporation plans to launch its own cryptocurrency wallet. Visa has also applied for registration of software to audit digital assets. In addition, according to the documents, the company plans to issue non-fungible tokens (NFTs).

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 #Cryptocurrency pic.twitter.com/SnTkt8jx4o— Mike Kondoudis (@KondoudisLaw) October 27, 2022

What else is known about Visa’s plans? The financial giant also plans to provide its customers with a virtual environment in which users can interact for “recreational, leisure, or entertainment purposes,” perhaps in question is a metaverse.

Visa is moving deeper into the Web 3.0 realm, and previously the payment company and the Blockchain.com explorer launched a debit card with cashback in cryptocurrencies. In this, both fiat and digital assets are available for payment.

Also, JPMorgan, a financial holding company, in cooperation with Visa will launch a blockchain project in cross-border payments. The Confirm product will validate data from more than 2 billion accounts from 3500 banks. And in partnership with FTX, the company released debit cards for the exchange’s customers, they are already available in the US and will soon be launched in more than 40 countries in Latin America, Europe, and Asia.

Earlier, Kondoudis reported that Western Union filed trademark applications for its own cryptocurrency exchange and digital currency.

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