The banking and payment industries are showing more interest in cryptocurrencies and metaverse-related products and services. Two major players in these fields, HSBC and Mastercard, have recently filed more trademark applications with the United States Patent and Trademark Office (USPTO) covering a wide range of crypto-related services.
Mastercard’s latest trademark application (serial no. 98038563) was filed on June 12 for the word mark “Mastercard Crypto Credential.” According to USPTO attorney Mike Kondoudis, who tweeted about the filing on Monday, it covers software for verifying interactions, processing or exchanging cryptocurrencies, and connecting virtual asset service providers (VASPs).
HSBC also filed a new trademark application (serial no. 98037178) on June 12 for the word mark “HSBC Innovation Banking.” The filing focuses on metaverse banking, consulting, financial services, virtual credit cards, and several services involving non-fungible tokens (NFTs).
These are not the first crypto-related trademark applications by HSBC and Mastercard. In December last year, HSBC filed trademark applications for its name and logo covering a broad range of crypto-related services. In March, the bank joined the metaverse by partnering with blockchain virtual gaming platform The Sandbox. However, HSBC Group’s CEO, Noel Quinn, said in September that crypto is not in the bank’s future.
Mastercard has been more active in the crypto space for quite some time. In April last year, Mastercard filed 15 metaverse and NFT-related trademark applications. Last November, the payment giant said it is focusing on five key areas to turn crypto into an everyday way to pay.
HSBC and Mastercard are not the only major corporations and financial services institutions that have filed trademark applications for a broad range of digital currency and metaverse products and services. Other examples include Visa, Paypal, and Western Union.
The increasing number of trademark applications by these companies indicates that they are preparing for a future where cryptocurrencies and metaverse-related products and services will play a significant role in their businesses.
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