The multinational company stampede to book a spot in the coming metaverse continues apace this week with both Western Union and PayPal entering metaverse trademark filings at the USPTO.
They follow earlier metaverse trademark filings by American Express and Coinbase’s foray into global money remittance earlier in the year, which allowed US dollars to be withdrawn in Pesos in Mexico.
PayPal and Western Union, both leading global money transfer companies, filed the trademarks on the 18th of October 2022, said Mike Kondoudis in recent tweets.
Western Union metaverse trademarks
Western Union has been slower than other money remittance companies to embrace crypto payment services. However, their recent filings point to the realization that Web3 tech is the future and if they don’t embrace it, they will be left behind.
The filings include what looks like plans for a digital trading exchange and may even issue its own token, as well as its traditional money transfer business.
PayPal trademarks in the Metaverse
With their announcement in June that US customers could deposit and withdraw crypto from their wallets, PayPal look as if they are well on the road to all things blockchain. The latest moves seem to confirm this.
PayPal’s filings include downloadable software which can be used to buy, sell, store, and trade digital and virtual cryptocurrencies, digital assets, and tokens.
The software will allow users to transfer, store and manage their digital assets, all within the PayPal ecosystem. Furthermore, they filed for Metaverse trademarks for virtual currency transfer and payment processes.
These multinationals, including PayPal and Western Union, understand that Web3 is the future and want to ensure they are well-positioned for the revolution. We will continue to inform you of metaverse patents by the big and powerful as they come out. You can read about other recent metaverse trademarks here.