Facebook May Launch a Crypto Exchange in Brazil

• Facebook’s parent company Meta has filed a trademark registration in Brazil.
• The request mentioned Bitcoin and possibly a crypto wallet app.
• Some entities in the crypto space went so far as to interpret the platform as some form of a crypto exchange.

Meta, Facebook’s parent company, is allegedly launching its own cryptocurrency exchange in Brazil. According to a Brazil-based cryptocurrency news site, Meta has filed a registration request to Brazilian authorities.

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In fact, the source said that Meta filed the trademark registration back in December 2021. Also, the 90-day period for public contention has begun. 

Bitcoin was mentioned in the registration, as well as a possible cryptocurrency wallet platform. Specifically, one statement originally written in Portuguese said that the registration includes a “distributed cryptocurrency wallet platform software for use in processing financial transactions.”

Other entities such as Bitcoin Archive went further as to suggest that this may be a cryptocurrency exchange. 

As of press time, Meta has not made a public statement regarding the possible crypto foray in Brazil. If proven true, this could mean that Meta is taking strides toward entering the crypto space after multiple failed attempts.

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