Visa Intends to Introduce Its Own Crypto Wallet

Mike Kondoudis, a trademark attorney, reports that the global banking powerhouse Visa has submitted many trademark registrations linked to cryptocurrencies.

According to the applications, the Fresno, California-based financial services company aims to develop its own bitcoin wallet.

Visa has also submitted an application for auditing software for cryptocurrencies and other blockchain-based assets.

The financial giant also intends to provide its consumers with a virtual environment in which users may engage for “recreational, leisure, or entertainment reasons” accessible in the virtual world.

In addition, Visa has filed an application for a series of collectables, indicating a desire to expand its presence in the non-fungible token market.

In 2014, former Visa CEO Charlie Scharf said that Bitcoin has a number of “interesting” characteristics. Since then, the firm has adopted crypto and blockchain gradually.

Visa made the decision in March 2021 to permit payment settlements using the USD Coin. Visa started an NFT initiative to promote digital assets in October 2017. The corporation also purchased its own “punk” from the CryptoPunk collection in August of last year.

In early March, despite the fact that the payment giant is already heavily invested in crypto, its CEO Al Kelly questioned the sector’s value at a conference. Kelly does not believe that cryptocurrencies can play a large role in nations such as the United States and Canada.

Also Read: EU Legislator Compares Cardano To A Rocket