HSBC files trademark applications to enter the Metaverse with Virtual Credit Cards and NFTs

HSBC, a UK-based universal bank and financial services holding company, has filed trademark applications for its name and logo, revealing its intention to embrace non fungible tokens (NFTs) and enter the metaverse.

According to the trademark applications filed with the USPTO on December 15, the company intends to offer:

• Virtual goods, namely bank cards, cash cards, check cards, debit cards and more for use online and in online virtual worlds.
• Processing of virtual payment card transactions, virtual prepaid cards, virtual debit cards and virtual credit cards in the metaverse;
• Provision of financial information in the metaverse;
• Events and proceedings in the metaverse in the fields of finance, cryptocurrency and NFT.

Michael Kondoudis, a trademark attorney specializing in Web3-related applications, tweeted the news.

#HSBC has filed trademark applications for its name and logo. The applications indicate plans for:

▶️ Digital media backed by NFTs
▶️ Virtual currency exchange + transfer
▶️ Virtual credit card processing
…and more!#NFTs #Metaverse #Cryptocurrency #Blockchain #Crypto pic.twitter.com/RK1yegoYIh

— Mike Kondoudis (@KondoudisLaw) December 23, 2022

Banks and Web3

HSBC is not the first bank or financial institution to take steps into NFTs and the metaverse.

That same month, Sygnum launched its virtual metaverse space with the goal of educating the community about new products and the future of finance.

In October, SEBA Bank launched a platform to start offering Ethereum-based NFT custody.

In addition, in September, DBS Bank collaborated with The Sandbox to establish the “BetterWorld” metaverse to showcase the value of developing a better and sustainable world.

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