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The launch of Visa's own cryptocurrency wallet is planned.

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 The launch of Visa's own cryptocurrency wallet is planned.


According to trademark lawyer Mike Kondoudis, the multinational financial giant Visa has submitted many trademark registrations pertaining to cryptocurrencies.

According to the applications, the financial services company with headquarters in Fresno, California, plans to introduce its own bitcoin wallet. Additionally, Visa submitted a request for software that is used to audit bitcoins and other blockchain assets.

The banking behemoth also intends to offer its customers access to a virtual world where users can connect for "recreational, leisure, or entertainment objectives."

Additionally, Visa has purportedly applied for a number of collectibles in an effort to delve even further into the area of non-fungible tokens. Charlie Scharf, the former CEO of Visa, stated that there were some "interesting things" about Bitcoin back in 2014. Since then, the business has been gradually embracing blockchain and cryptocurrencies. Visa made the decision to permit payment settlements using the USD Coin in March 2021.

Visa introduced its NFT initiative in October of last year to support digital assets. The business also purchased its own "punk" from the CryptoPunk collection in August. 

Earlier this month, the cryptocurrency exchange FTX and Visa partnered to provide bitcoin debit cards across 40 nations. The payment industry behemoth is already aggressively invested in cryptocurrency, but during a conference in early March, its CEO Al Kelly questioned the sector's usefulness. Kelly is skeptical that cryptocurrencies will have a substantial impact in developed nations like the United States and Canada.

Article Credit: U.Today

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