Meta, the owner of social media channels WhatsApp, Facebook, and Instagram, has reportedly submitted trademark applications for five symbols under the title “Meta Pay.” Reports say that the application describes Meta Pay as a digital network that intends to assist account holders in buying, selling, and investing in all digital asset types.
The company is reportedly preparing to launch a new cryptocurrency exchange services platform for trading digital assets and blockchain tech-affiliated offerings. Additionally, the reports included that the new platform would validate and authenticate the identity of its users, according to a US patent lawyer, Josh Gerben.
The Chief Executive Officer of Meta, Mark Zuckerberg, recently made comments that suggested he’s interested in the avatar world of the Metaverse. While the company’s registration documents for its trademark didn’t include any information on the Metaverse, it reportedly only mentioned digit assets and blockchain tech-affiliated offerings. Late last year, the social media corporation owner spent about $60m to purchase a domain for Meta Pay’s website, metapay.com.
Meta Puts Words to Action in Its Digital Assets Plan
Further information on the trademark application describes Meta Pay as software in the e-commerce sector that intending users may download to their computer devices. The actionable transactions on the software include placing orders on and paying for products and services online.
Additionally, users could use the software as a digital asset wallet to hold their cryptocurrencies or other blockchain tech-affiliated offerings. Meta Pay’s trademark application documents reportedly stated that the software would allow account holders to trade in digital assets and serve as a marketplace for different virtual assets.
Shiba Inu Sees Heightened Demand after Initial Absymal Outing in May
After showing an unsavory performance earlier this month, Shiba Inu reportedly turns around to see charts-topping whale purchases. The meme coin reportedly led other whales in their amount of whale-purchased assets.
Initially, the coin had shown signs of hitting $0.000011. But it surprised experts’ expectations by dipping briefly to $0.000009, causing many individual investors to panic-sell more than Shiba investors sold in February.
However, while some predict a massive downturn for the meme coin, large whales are buying massively. The whales reportedly bought in large quantities to salvage the currency’s value and preserve their equity should the asset retract its negative trajectory.
Meanwhile, some experts warn investors about the possibility of Shiba Inu following the crashed Luna’s steps. The researchers at a virtual asset research group, Finder, forecast that Shiba could fall significantly in its worth by the end of the year.
The analysts also predict that the currency could lose its value to become about 100 times less than its current worth by 2030’s end. However, the report kept silent on the coin’s performance in-between the forecast periods, signaling the possibility for short-term investors to profit from the virtual asset.