Two prominent players in the banking and payment sectors, HSBC and Mastercard, have recently filed additional trademark applications associated with cryptocurrencies. These applications were submitted to the United States Patent and Trademark Office (USPTO). Mastercard’s filing focuses on crypto and blockchain transactions, while HSBC’s application centers around metaverse banking and services related to non-fungible tokens (NFTs).
Expanding Their Presence in the Crypto Space
HSBC and Mastercard are further solidifying their involvement in the crypto industry by submitting trademark applications for a diverse range of crypto-related services.
According to a tweet by USPTO attorney Mike Kondoudis on Monday, Mastercard filed a new trademark application (serial no. 98038563) on June 12 for the term “Mastercard Crypto Credential.” The application covers software used for verifying interactions, processing or exchanging cryptocurrencies, and connecting virtual asset service providers (VASPs).
Similarly, on June 12, HSBC filed a new trademark application (serial no. 98037178) with a focus on crypto-related services. The banking giant’s application, named “HSBC Innovation Banking,” revolves around metaverse banking, consulting, financial services, virtual credit cards, and various services involving non-fungible tokens (NFTs).
It is worth noting that HSBC had previously filed trademark applications for its name and logo, encompassing a wide array of crypto-related services, in December of the previous year. In March, the bank ventured into the metaverse by partnering with the blockchain virtual gaming platform known as The Sandbox. However, HSBC Group’s CEO, Noel Quinn, mentioned in September that the bank did not view cryptocurrencies as part of its future plans.
Mastercard has been actively involved in the crypto sphere for some time. In April of the previous year, the company filed 15 trademark applications related to the metaverse and NFTs. In November, the payment giant announced its focus on five key areas to establish crypto as a common method of payment.
Numerous major corporations and financial service institutions, such as Visa, PayPal, and Western Union, have joined the trend of filing trademark applications for a broad range of digital currency and metaverse products and services.
What are your thoughts on major companies continuing to file trademark applications covering a wide range of crypto and metaverse-related products and services? Please share your opinions in the comments section below.
Frequently Asked Questions (FAQs) about cryptocurrency
A: HSBC’s application focuses on metaverse banking and services related to non-fungible tokens (NFTs), while Mastercard’s filing centers around crypto and blockchain transactions.
Q: When were the trademark applications filed?
A: Both HSBC and Mastercard filed their new trademark applications on June 12.
Q: What specific services do the trademark applications cover?
A: Mastercard’s application covers software for verifying interactions, processing or exchanging cryptocurrencies, and connecting virtual asset service providers (VASPs). HSBC’s application includes metaverse banking, consulting, financial services, virtual credit cards, and various services involving NFTs.
A: Yes, HSBC filed trademark applications for its name and logo covering a broad range of crypto-related services in December of the previous year. Mastercard also filed 15 metaverse and NFT-related trademark applications in April of the previous year.
A: Yes, major companies like Visa, PayPal, and Western Union have also filed trademark applications for a wide range of digital currency and metaverse products and services.
More about cryptocurrency
- HSBC and Mastercard File More Crypto-Related Trademark Applications
- United States Patent and Trademark Office (USPTO)
- Western Union