Visa files trademark applications for crypto wallet launch

Payments giant Visa filed two trademark applications to the United States Patent and Trademark Office (USPTO) detailing plans to manage cryptocurrency transactions and launch its own cryptocurrency wallet on Oct. 22.

The announcement was made by licensed trademark attorney, Mike Kondoudis via a tweet.

The two trademark applications cover the management of cryptocurrency and virtual asset transactions, the launch of a cryptocurrency wallet, NFTs and virtual environments for users to ‘interact for recreational, leisure, or entertainment purposes.’

Visa has been expanding its presence in the crypto space over the past two years. It has partnered with 60 crypto companies, including Coinbase, Binance, and Crypto.com, to enable crypto payments at over 80 million merchants worldwide.

In December 2021, the payments giant introduced ‘Visa’s Global  Crypto Advisory Practice, an offering within Visa Consulting & Analytics (VCA) designed to help clients and partners advance their own crypto journey.

In January 2020, Visa CEO Alfred Kelly first revealed the company’s plan to enable crypto trading on its network while back in May 2020, the company filed a patent application to create digital currency on a centralized computer using blockchain technology.