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Friday, August 12, 2022

Meta Moves To Brazil For Crypto Services

Meta, currently the world’s largest social media platform, has moved towards filing a trademark registration with the authorities in Brazil. This trademark would allow the company to develop, design, and provision most of the software and hardware for various Bitcoin and other crypto-related services.

The company had recently rebranded itself from Facebook- which it had seen as a move that would see them aligned better with their developments for the new verse- despite most regulatory hurdles that were faced during the numerous period attempts to enter the space of crypto. 

Meta Finding Its Crypto Roots In Brazil

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Increasing the speed of the effort, Meta decided to file a trademark registration with the Brazilian National Institute of Industrial Property for crypto products and services which were related to wallets, trading, and exchange platforms. A much deeper investigation revealed a translated version of the specifications regarding the services and the products to be trademarked under the company, which was posted on the public forum. 

Meta went ahead and published the application for its registration on the 25th of January- and is currently waiting for opposition before the INPI approval. According to this filing, the trademark of the filing order of the company was placed on the 5th of October, 2021 from Jamaica. 

Interestingly, Tim Cook, the CEO of Apple has also stated that he sees considerable potential in the space of Metaverse, which has definitely resulted in quite a massive spike in the stock prices of Apple. As reported by Cointelegraph, the stocks of Apple jumped up by 8% to $167.23 in after-hours trading. Cook also spoke about the potential in the space- which has led to the company investing the way they think it ought to be done.

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