Meta Platforms Inc. (NASDAQ:) has spoken out to reveal that it is behind a deal worth $60 million to acquire the trademark assets. Meta Financial Group (NASDAQ

According to a Reuters report, US regional bank Meta Financial disclosed in a regulatory filing on Monday that Beige Key LLC agreed to pay $60 million for the global rights to the bank’s names. And although the name of Beige Key’s owner is yet to be revealed, a representative of Meta Platforms said that “Beige Key is affiliated with us and we have acquired these trademark assets.”

The deal highlights how important the name “Meta” has become to the social media company, which recently changed its name from Facebook to Meta. Mark Zuckerberg is betting hard on the metaverse concept, which he believes “is the next frontier” of the company’s growth, one that could secure its success in the coming years.

It is unlikely that this investment will be financially profitable in the future. […]However, the metaverse is the ultimate source of all social experiences.

MetaBank is a MetaBank subsidiary that offers loans, credit cards and commercial lending as well as consumer savings. It also “partners with institutions including government agencies and financial technology firms to offer banking services with the aim of bolstering financial inclusion.”

Meanwhile, Facebook’s rebranding efforts have not been a smooth sail. Facebook has been threatened with lawsuits by several companies. Meta PC Computer Company, from Arizona, had already registered their name in August. But, for $20 Million, the owner of the company is willing to give up the business name.

Continue reading on BTC Peers