American Express has Reportedly Filed Trademark Applications to Register Services in the Metaverse

American Express (NYSE: AXP) has reportedly filed trademark applications in order to register its official name, logo, as well as its slogans for a range of banking services in the Metaverse.

In an applications submitted this month, reviewed by Metaverse trademark attorney Michael Kondoudis, Amex seems to have hinted at a range of Metaverse-related services.

The applications cover:

“Assistance with electronic transfers of money in the metaverse and other virtual worlds; Banking services in the metaverse and other virtual worlds; Issuing and processing payments of virtual prepaid cards, virtual prepaid gift cards, virtual stored value cards, and virtual payment cards in the metaverse and other virtual worlds; Virtual currency exchange; Electronic transfer of virtual currencies…”

The applications also suggest that Amex might look to offer an online or all-digital marketplace for non-fungible tokens (NFTs) “featuring textual and graphic content”.

Kondoudis added:

“Clearly, American Express sees the potential of the Metaverse and is preparing its trademarks and brand for the virtual economy that will dominate it.”

Financial services companies are currently focused on how to effectively approach the Metaverse.

Last month, JPMorgan had launched its Onyx lounge – which comes complete with roaming tiger – in blockchain-powered Decentraland in order to coincide with the release of a paper on the opportunities that are potentially presented by the Metaverse.

Siam Commercial Bank’s tech division SCB 10X has also opened a HQ in the Sandbox, which is yet another blockchain-enabled virtual world platform.

As covered, SCB 10X, a holding company under the Siam Commercial Bank (SCB) Group (BKK: SCB), revealed that it would be tapping into the Metaverse.

As mentioned in the update, SCB 10X will be introducing its first headquarters in The Sandbox. SCB 10X has also reportedly hosted a virtual summit and workshop “featuring global Metaverse leaders.”

The event aims “to highlight creative capabilities in the Metaverse and help foster a stronger Metaverse community and expand ecosystem globally.”

As noted in a blog post, SCB 10X hosted the “SCB 10X OPEN HOUSE IN METAVERSE”, to unveil their virtual headquarter in The Sandbox. SCB 10X claims that it will be “the first banking group entity globally to develop the headquarter in The Sandbox, a blockchain-based virtual world platform.”

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