Visa plans to launch its own crypto-currency wallet

Global financial and credit card giant Visa may be considering a move into the digital wallet service after filing two trademark applications. According to trademark attorney Mike Kondoudis, the Fresno, California-based company has filed several trademark applications related to crypto-currencies, but the recent ones suggest that it intends to launch its own crypto-currency wallet.

On October 22, the Visa International Service reportedly filed two applications with the U.S. Patent and Trademark Office (USPTO) to have its character mark used in software.”for viewing, accessing, storing, monitoring, managing, negotiating, sending, receiving, transmitting and exchanging“crypto-assets and non-fungible tokens, or NFTs.

In addition, the filings also hinted that the credit card company might consider a foray into the metaverse, where its name would be used in “virtual spaces in which users can interact for recreation, leisure or entertainment purposes.“

“VISA has filed 2 trademark applications claiming plans for: Digital, virtual and crypto-currency transaction management, digital currency + crypto-currency wallets, NFTs + virtual goods, provision of virtual environments, and more“, said Mike Kondoudis on Twitter.

Visa is no stranger to the crypto world and has been a strong supporter for years. In 2014, then-CEO Charlie Scharf said there were “interesting things about bitcoin.“

Since then, the company has continued to embrace crypto and blockchain, previously partnering with crypto companies to offer credit and debit cards linked to crypto payments. In March 2021, Visa gave the green light to allow payment settlements using USD Coin.

The company also launched an NFT program last October in an effort to boost digital assets and also made a $15,000 purchase of its own “punk” from the CryptoPunk collection in August 2021 as part of an effort to “a first-hand understanding of the infrastructure requirements for a global brand to purchase, store and leverage an NFT.“

The Visa trademark registration comes after Mastercard filed an application with the USPTO in April to use its logo on NFTs and in the metaverse.

Earlier this month, Visa again partnered with FTX to roll out crypto-currency debit cards in 40 countries.

Visa reportedly has more than 1 billion Visa cards in circulation worldwide.