Meta  to Register BTC and Cryptocurrency Services in Brazil

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The world’s largest social media network, Meta, has applied for trademarks in Brazil to invent, manufacture, and provide hardware as well as software for a variety of BTC and cryptocurrency-related services. Meta submitted their application form on 25th January and is presently anticipating objections before being approved by the INPIMeta. 

Meta Keeps Betting on the Cryptocurrency Market

Notwithstanding regulatory challenges encountered throughout its multiple past efforts to access the cryptocurrency field, Meta officially renamed from Facebook in order to successfully match with Metaverse initiatives. Meta accelerated this endeavor by registering a trademark for cryptocurrency goods as well as services linked to trades, portfolios, and exchange networks with the Brazilian National Institute of Industrial Property.

More inquiry by Cointelegraph uncovered an interpreted copy of the specs for Meta’s trademarked goods and services, as illustrated here:

Meta’s Products and Services Variant

Software architecture, programming, and execution for third-party validation solutions for digital currency exchanges, especially (yet not restricted to) BTC exchanges.

Meta filed their application form on 25th January and is presently anticipating objection as well as INPI authorization. Meta’s trademark filing order was placed on 25th October last year, from Jamaica, based on the document. Apple CEO Tim Cook stated on the firm’s first quarter this year’s profits call that he saw significant promise in the Metaverse area, causing Apple stock values to increase.

Apple stock rose 8 percent to $167.23 during after-hours trade, according to Cointelegraph. Cook commented regarding the possibilities in this field and how Apple is spending properly in response to one of the queries concerning Apple’s chances in the Metaverse. We are constantly looking into novel and upcoming technologies, and I’ve already mentioned how exciting it is for us at the moment.

Diem Has Been Deserted by Meta

It’s important to remember that the corporation announced some days ago that it was discontinuing the Diem project, which involved creating its virtual currency predicated on DLT in partnership with other significant firms who formed an organization. 

Assuming it is accurate that it’s working on its cryptocurrency project, dropping Diem will be a no-brainer. Furthermore, given the firm’s plans to develop its metaverse, it’s only natural to assume that cryptocurrency services would be included.

Also it’s important to note that Facebook began testing payments through WhatsApp in Brazil nearly 2 years ago, and speculations are spreading that it is also testing virtual currency transactions on its popular instant messaging network. We’d probably find out more in the next weeks or months.


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