Meta (recognized in the Russian Federation as an extremist organization), formerly Facebook, filed five trademark applications in the United States for a new digital platform called Meta Pay.
The trademark applications, filed May 13, describe Meta Pay as “an online social networking service for investors to make financial transactions and exchange digital currency, virtual currency, cryptocurrency, digital and blockchain assets, digital tokens and cryptotokens.”
According to details in the trademark application, Meta Pay could also include digital asset lending and investment services in addition to payment and trading.
The social media giant previously acquired the domain name MetaPay.com from South Dakota-based MetaBank for $60 million in December 2021.
Meta previously filed eight trademark applications for its logo, describing the move as a U-turn toward the digital economy.
So far, all the efforts so far haven’t been too successful, as Meta’s Reality Labs division lost nearly $3 billion in the first quarter of the year.
As we recall, the Diem Stablecoin project also failed to see the light of day amid significant opposition from regulators around the world.