Meta is presently expecting final approval of a deal with Brazil and Brazilian authorities to register applications, which will shake up the game and allow them to enter a new market.
Meta filed for registration in late January and is currently awaiting opposition before INPI approval in Brazil; given that Meta hopes to bridge a gap for Bitcoin and other cryptocurrencies with its new hardware design that happens to look to influence the dynamic, how could the company add significantly Brazil to the list of crypto destinations?
Meta & Brazil’s New Partnership
Meta registered a patent for crypto products and services linked to trading, wallets, and exchange platforms with the Brazilian National Institute of Industrial Property (INPI).
A Meta coin platform is a type of information technology infrastructure that supports the exchange of digital currencies and digital assets. It involves the blockchain, a distributed ledger technology that we are all familiar with. Bitcoin and Ethereum are two well-known Metacoin platforms.
Meta, the world’s largest social media platform, has applied for a trademark in Brazil to design, develop, and provide hardware and software for a variety of Bitcoin and cryptocurrency-related services. This is a “design, development, & execution of software for third-party authentication facilities for digital currency transactions, including (but not limited to) deals involving Bitcoin currency,” to put it another way.
INPI Brazil and the Metas Challenge
The National Institute of Intellectual Property (IPNI) is a French administrative governmental entity tasked with receiving and granting industrial property titles such as patents and brevets. Meta had registered earlier this year and has been waiting for approval; once approved, the move could open the floodgates and enhance cryptocurrency awareness in Brazil.
Meta recently released their registration application, which is currently awaiting objection before being approved by the INPI. Meta’s initial trademark filing order was placed on October 5 of last year, according to the filing.
Meta: A Revolutionary Place, Same Old Scheme
Meta has recently undergone a rebranding effort, focusing on crypto and blockchain technology, as well as its larger Facebook product, with the goal of better aligning with metaverse initiatives. Meta persists despite regulatory roadblocks encountered during its several attempts to enter the crypto market. Meta is one of the most popular social media networks, earning its popularity as the “social media for boomers” in comparison to other networks.
Meta has demonstrated an excellent eye for the future by connecting with Facebook and parting ways with certain former crypto leaders – can they maintain the pace heading forward?