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HSBC plans to launch seamless banking services in the metaverse

Tuesday, June 20, 2023 06:39 AM | Invezz via QuoteMedia

HSBC plans to launch seamless banking services in the metaverse

2023-06-20 06:39:56 ET

HSBC Bank in London

Renowned companies continue to explore opportunities in the crypto market despite ongoing regulatory challenges. The latest developments show HSBC filed trademark applications to join the metaverse and non-fungible token (NFT) sectors

HSBC files new metaverse and NFT patents

Property attorney Mike Kondoudis tweeted that HSBC filed two trademark applications with the US Patents & Trademark Office. The monetary service provider made the new move on 12 June 2023, targeting the metaverse and NFTs .

HSBC is a recognized banking institution that provides financial services to global customers via its worldwide finance enterprises and subsidiaries. It offers various monetary products, including loans, credit cards, and mortgages.

The latest updates show HSBC filed for a trademark to launch secure electronic payments in the virtual world. Further, the banking firm plans to introduce software applications for fraud prevention and identity verification within the metaverse.

Also, HSBC wants to develop an application that enables customers to complete business and banking transactions within the metaverse. The anticipated downloadable products, such as software featuring debit & credit cards, cheque cards, and bank cards, will streamline financial undertakings in the digital space.

Furthermore, HSBC revealed plans to launch a marketplace that allows online buyers and sellers to trade NFTs. Finally, the banking giant promised to process credit, debit, and prepaid digital transactions within the metaverse.

HSBC continues its digital push

The banking giant has explored the metaverse and the non-fungible token sectors before. It filed trademark applications for NFTs and virtual worlds on December 2022. HSBC revealed plans to introduce immersive services and products. Also, the firm highlighted digital transactions and the need for secure means.

Meanwhile, HSBC joins a list of fintech firms joining the NFT and metaverse industries, including PayPal, Visa, and Western. Also, invezz.com’s latest news shows Mastercard filed a trademark application to develop innovative crypto and blockchain solutions.

The post HSBC plans to launch seamless banking services in the metaverse appeared first on Invezz .

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