Meta Platforms Inc., formerly Facebook, filed five trademark applications for “Meta Pay” with the United States Patent and Trademark Office (USPTO) last week.
Trademark attorney Josh Gerben tweeted explaining Wednesday that, in his opinion, Meta’s applications indicate the company is planning to launch a payment platform called Meta Pay for users to exchange regular fiat money for cryptocurrencies.
Meta’s head of fintech, Stephane Kasriel, explained last week that the company is “investing more” in its existing payments experiences, noting that it has been in payments since 2009.
“Today, people and businesses use our platforms to make payments in 160 countries and 55 currencies,” Kasriel wrote, elaborating:
The experience that people see today is Facebook Pay, but we’ll be bringing that closer to the Meta brand soon by renaming it Meta Pay.
In March, Meta filed eight trademark applications for its logo covering the metaverse as well as a wide range of cryptocurrency services.