HSBC Makes Move into Digital Currency and Metaverse Spaces with Filing of Trademark Applications

Banking giant HSBC has filed trademark applications with the United States Patent and Trademark Office (USPTO) for a range of digital currency products and services, including those related to the metaverse and non-fungible tokens (NFTs). The applications, filed on December 15, cover goods and services such as the exchange and transfer of virtual currencies, reward programs in the virtual world, and payment processing services in the metaverse.

In addition to these services, HSBC also plans to provide financial information in the metaverse and other virtual worlds, as well as home banking services, virtual currency exchange, and electronic transfer of virtual currencies. The bank intends to offer entertainment services in virtual environments, including sporting and cultural activities, and develop online virtual environments for electronic stock trading platforms, electronic marketplaces, and electronic financial and monetary exchanges.

The Sandbox Metaverse

HSBC joined the metaverse earlier this year, partnering with blockchain virtual gaming platform The Sandbox in March. The filing of these trademark applications indicates the increasing interest in and adoption of digital currencies and the metaverse by major corporations and financial institutions.

Other major corporations and financial institutions, including Visa, Paypal, Western Union, and JPMorgan Chase, have also filed trademark applications covering a range of digital currency and metaverse products and services. This suggests that these technologies are gaining wider adoption among these companies.

Mike Kondoudis, a USPTO-licensed trademark attorney, commented on HSBC’s trademark applications, noting that they indicate the bank’s plans for a number of digital products and services. The applications cover a wide range of products and services, including the sending, receiving, converting, and storing of digital currencies.

HSBC’s trademark applications also cover payment processing services, including credit card, prepaid card, gift card, and payment card transaction processing services in the metaverse. The bank intends to provide financial information in the metaverse and other virtual worlds, as well as home banking services, virtual currency exchange, and electronic transfer of virtual currencies.

In addition to these services, HSBC’s trademark applications also cover entertainment services in virtual environments, including sporting and cultural activities, and the development of online virtual environments for electronic stock trading platforms, electronic marketplaces, and electronic financial and monetary exchanges.

Wrapping up

The filing of these trademark applications by HSBC indicates the bank’s interest in and plans to offer a range of digital currency products and services, including those related to the metaverse and non-fungible tokens. The increasing number of major corporations and financial institutions filing trademark applications covering a range of digital currency and metaverse products and services suggests that these technologies are gaining wider adoption among these companies.