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HSBC and Mastercard Set to Revolutionize Crypto Market with New Trademark Applications

The crypto market has seen some new trademark related applications from the banking giants HSBC and Mastercard.

Key Points

  • HSBC and Mastercard have filed multiple trademark applications for crypto-related products and services.
  • HSBC filed trademarks for a wide range of digital currency and metaverse products, including NFTs.
  • Mastercard has applied for at least 15 crypto- and metaverse-related trademarks.

HSBC and Mastercard are making moves in the world of cryptocurrencies. The two banking and payment giants recently filed trademark applications with the US Patent and Trademark Office, indicating their interest in the crypto industry. Mastercard’s application is focused on transactions involving crypto and blockchain technology. Meanwhile, HSBC’s application centers on banking in virtual worlds and providing services for non-fungible tokens (NFTs). 

HSBC and Mastercard into Crypto 

HSBC and Mastercard have recently shown further interest in the world of cryptocurrency by filing trademark applications with the United States Patent and Trademark Office (USPTO). According to USPTO attorney Mike Kondoudis, Mastercard filed a new trademark application on June 12th for “Mastercard Crypto Credential” which covers a variety of crypto-related services such as verifying interactions, processing or exchanging cryptocurrencies, and connecting virtual asset service providers (VASPs). 

Meanwhile, HSBC filed a new trademark application on the same day for “HSBC Innovation Banking”. This application focuses on metaverse banking, consulting, financial services, virtual credit cards, and several NFT-related services. It appears that both companies are keen to stay ahead of the curve when it comes to the rapidly evolving world of cryptocurrency and its associated services.

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.

End Note

In the world of finance, big players are making moves towards cryptocurrency and the metaverse. HSBC, one of the largest banks in the world, applied for trademark protection for its name and logo in relation to a wide range of crypto-based services. 

And despite partnering with a blockchain virtual gaming platform, the bank’s CEO has stated that crypto is not in the bank’s future. In contrast, Mastercard has been focusing on the world of crypto for some time now. They filed multiple trademark applications for metaverse and NFT-related services last year and have announced that they aim to turn crypto into an everyday way to pay, focusing on five key areas.