Visa is Planning to Launch Crypto Wallets 

October 29, 2022

Reading Time: 2 minutes

Visa has filed for some trademarks that revealed that the credit giant may be exploring digital wallet services.

As per a recent release by the metaverse trademark attorney, Mike Kondoudis, Visa has filed for two trademarks which one of the filings revealed that Visa is looking to launch its digital wallets. 

The trademark applications included software for managing digital, virtual, and cryptocurrency transactions, and cryptocurrency wallets, and in addition to these, there were provisions for utility tokens, blockchain assets, and auditing cryptocurrencies. 

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Is Visa Venturing into Metaverse?

Beyond crypto transaction software and wallets, the filings also included provisions for “non-downloadable virtual goods” such as Nonfungible tokens collectibles.

The application also contains some metaverse-related statements;

“Providing virtual environments in which users can interact for recreational, leisure or entertainment purposes accessible in the virtual world.”

Visa and its major competitor Mastercard have entered several partnerships with crypto firms in their quest to move with the trends.

To issue crypto debit cards, Visa announced partnership with Blockchain.com and this is the most recent of its crypto partnerships.

Also earlier this month, Visa partnered with FTX to roll out crypto debit cards in 40 countries. The firm has also linked up with investment banking giant JPMorgan. The two will work on private blockchains to facilitate cross-border transactions.

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