The parent firm of the social media heavyweight Facebook – Meta – is reportedly having plans down their pipeline to introduce a payments platform with facilitating features for crypto. 

Specifically, per details from the records submitted to the US Patent and Trademark Office (USPTO) on May 13th, Meta reportedly submitted the filing for five applications, to have its namesake applicable to a platform dubbed Meta Pay. 

The filings included Meta’s name for use in an “online social networking service for investors allowing financial trades and exchange of digital currency, virtual currency, cryptocurrency, digital and blockchain assets, digitized assets, digital tokens, crypto tokens, and utility tokens.”

In March, Meta reportedly submitted the filing for eight trademark applications with the USPTO, having associations with Metaverse and blockchain. 

Meta Head Mark Zuckerberg additionally revealed on May 9th that the firm has commenced the testing phase for digital collectibles on Instagram – a sign showing a development towards nonfungible tokens (NFTs). 

At the moment, Meta is reportedly providing management for a few high-profile applications, nominally WhatsApp, Facebook Messenger, and Facebook.

Other establishments headquartered in New York such as Gatorade producer Stokely-Van Camp, the Air Force, the New York Stock Exchange, and Mastercard have reportedly also submitted filings of the same kind as Meta, associated with the potential access into the Metaverse or otherwise widening their presences in the crypto sphere. 

As revealed by USPTO, trademark applications take roughly eight months to process the first action as of March.