Meta is still waiting for the final go-ahead for a deal with Brazil and the Brazilian government that will change the game and allow them to enter a new market.
This happened in late January, and Meta is still waiting for approval from Brazil’s INPI before it can start selling Bitcoin and other cryptocurrencies. Meta wants to change the game with new hardware that it’s working on, so could Meta help Brazil become a more popular place to buy and sell cryptocurrencies?
Meta and the new business with Brazil
Meta applied for a trademark with the Brazilian government and the Brazilian National Institute of Industrial Property (INPI) for crypto products and services that deal with trading, wallets, and exchange platforms.
A metacoin platform is a computer system that lets people use a digital currency and its digital assets. It uses a technology called a “blockchain,” which is what we usually think of when we think of it. Bitcoin and Ethereum are two of the most popular platforms for metacoins.
Meta, the world’s biggest social media platform, has applied for a trademark in Brazil so that they can make, design, and sell hardware and software for a variety of Bitcoin and crypto-related services. When it comes to software for third-party verification services for digital currency transactions, such as transactions with Bitcoin, this is what it’s all about.
INPI Brazil and Metas Hurdle
In France, there is a government agency called the National Institute of Intellectual Property (IPNI). Its job is to receive applications and grant titles of industrial property, like patents and brevets. Meta filed earlier this year and has been waiting for a long time. When the move is done, it could open up the doors and make people in Brazil more aware of crypto, which would be a good thing.
Meta has been trying to get the application for registration approved by the INPI for a few weeks now. They are still waiting for the INPI to make a decision. There was a filing that said Meta’s first trademark filing order was made on October 5, 2013.
Meta: A New Place With An Old Trick
In the last few months, Meta has done a lot of rebranding, especially in the area of crypto and blockchain technology, as well as with its Facebook product in general, in order to better match up with the metaverse. Even though Meta has tried to get into the crypto space many times, the company keeps going. If you think Meta is only for people who are older than they are, you are wrong. Meta is one of the biggest social media platforms, even though people think of it as the “social media for boomers.”
It looks like Meta is going in the right direction now that they’ve connected with Facebook and parted ways with some former crypto executives. Can they keep up with the momentum going into the next few years?
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.