Europe's Largest Bank HSBC has Filed for NFT and Metaverse Trademarks
According to its trademark filings, HSBC is looking to offer NFTs, metaverse, virtual bank cards, and even payment services in the virtual world.
HSBC is cementing its position within the NFT and metaverse realm
HSBC, the largest European bank, has filed two Web3-related trademarks for its name and logo. The latest move comes at a time when more and more traditional banking firms are starting to show a growing interest in emerging technologies.
According to trademark attorney Mike Kondoudis, these filings were submitted to the United States Patent and Trademark Office (USPTO) by HSBC Group Management Services Limited on December 15th, signaling plans for NFTs, metaverse, virtual currency exchange, virtual credit/debit cards, and more.
To list, here are the products and services covered in the company's applications:
- Downloadable virtual goods, including digital media backed by NFTs;
- Virtual environments in which users can interact for recreational, leisure, or entertainment purposes;
- Financial services providing virtual credit cards, debit cards, currency exchange, and payment card transactions in the metaverse; and
- Online communities for digital assets, NFTs, metaverse, and virtual worlds.
For the Web3 community that survived unprecedented downfalls this year, HSBC's filings certainly bring a sense of hope to anyone who's still dabbling in this space. This is especially so after crypto firms like Celsius and FTX crashed into bankruptcy, impacting public sentiment on crypto, NFTs, and Web3 at large.
Of course, this isn't HSBC's first foray into the metaverse. The banking giant previously announced its entrance into The Sandbox in March before launching a virtual stadium in the blockchain gaming world.
However, HSBC Group's CEO, Noel Quinn, said in September that crypto is not in the bank's future. While it is open to new technology and innovations, the company is taking a more careful approach to this exciting front.
Many major financial corporations and service providers have filed trademark applications covering various crypto, NFTs, and metaverse products and services. For instance, Paypal, Visa, and Western Union applied for crypto-related trademarks in October. Last month, JPMorgan Chase was granted a crypto wallet trademark to provide a host of virtual currency and payment services.