HSBC and Fidelity File Metaverse and NFT Trademarks

    2 giants Fidelity and HSBC are the latest financial firms to seek trademarks in the Metaverse.

    Banking giant HSBC has filed two crypto-related trademark applications for its name and logo with the United States Patent and Trademark Office (USPTO). Mike Kondoudis, a USPTO-licensed trademark attorney, noted in a tweet on Friday that HSBC’s trademark applications show the bank’s plans for a number of digital products and services, including products and services related to the trading and transfer of virtual currencies.

    HSBC’s crypto trademark applications were filed on December 15 with serial numbers 97718803 and 97718583. The bank described various products and services in its applications, including sending, receiving, converting, and storing digital currency.

    The trademark applications also detail a number of metaverse-related products and services, such as “facilitating secure electronic payment transactions within the metaverse”, “providing banking services in the metaverse” and “provides processing of virtual credit cards, virtual debit cards, virtual prepaid cards, and virtual payment card transactions in the metaverse.” HSBC also includes a number of NFT services, such as “downloadable digital files validated with a non-fungible token (NFT).”

    In March, HSBC joined the metaverse by partnering with blockchain gaming platform The Sandbox. However, HSBC Group CEO Noel Quinn said in September that cryptocurrencies are not in the bank’s future roadmap.

    Besides HSBC, US financial magnate Fidelity Investments has also submitted 3 trademark applications related to providing services in the metaverse and virtual reality spaces. The application also mentions NFT and marketplace, virtual real estate investment, cryptocurrency trading, and metaverse investment services.

    Over the years, the world’s leading financial group has consistently embraced cryptocurrency more than others. In June of this year, Fidelity Digital Assets – a subsidiary of Fidelity began implementing ETH custody and trading for giants. Two months later, the wealth management giant added a BTC investment channel for customers through a personal retirement fund.

    There have been more large corporations and financial services institutions filing for trademarks covering a variety of digital currencies as well as metaverse products and services. For example, Visa, Paypal, and Western Union filed for a crypto-related trademark in October. Last month, JPMorgan Chase was granted a wallet trademark that covers various payment services and virtual currencies.

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