HSBC's Metaverse Banking & NFT Ambitions

HSBC's Metaverse Banking & NFT Ambitions

HSBC files for metaverse banking, NFT patents; gears up for digital leap.
June 22, 2023

United Kingdom-based banking giant, HSBC, is taking significant strides in the metaverse and NFT domain, according to recent filings with the United States Patent and Trademark Office (USPTO).

These filings, submitted on June 12, unveil HSBC's plans to mark its presence in the metaverse with a range of services, which include banking, consulting, and financial offerings. Additionally, the bank appears to be developing virtual credit cards, an innovation that could hint at the potential inauguration of a virtual banking branch and more extensive digital banking facilities.

Alongside its metaverse-related endeavours, HSBC is turning its focus towards the NFT sector. The filings reveal the bank's intention to establish online marketplaces dedicated to NFTs. This development doesn't mark HSBC's initial foray into the virtual domain. In fact, it had previously submitted trademark applications for an array of cryptocurrency and NFT-centric technologies in December 2022.

Despite recent fluctuations in the value and interest in metaverse properties, HSBC is among an expanding roster of firms seeking to carve out their place in the virtual realm.

HSBC is turning its focus towards the NFT sector.

This follows the footsteps of JPMorgan, who made history as the first bank to set up a virtual branch in Decentraland's metaverse in February 2022. Since then, other major players like Visa, PayPal, and Western Union have also made their moves in the metaverse, filing for their respective trademarks.

Disclaimer. NFT Mint Radar does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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