Key takeaways:
- American Express has filed seven trademark applications based on its IP with various Web3 use cases
- According to the wording in the applications, the payment card company is looking to offer various payments services in the NFT and metaverse space
- Other traditional financial companies, including JPMorgan and the NYSE, have recently made significant moves towards Web3
American Express is venturing into the Web3 space
International payment card services company American Express has filed seven trademark applications with the U.S. Patent and Trademark Office (USPTO) to use its intellectual property across different segments of the Web3 space, including NFTs and the metaverse.
USPTO-licensed trademark attorney and an expert on trademarks, Mike Kondoudis, believes that the applications filed on March 9 indicate the 150-year old company could be preparing to offer various NFT, cryptocurrency, and exchange services.
Moreover, according to an excerpt from one of the trademark applications, American Express is looking to assist with “electronic transfers of money” and offer “banking services” in the metaverse.
Speaking with CoinDesk, the American Express spokesperson said the company is “always monitoring emerging technologies” and highlighted they are keeping an eye on the metaverse as a space that could benefit their customers.
A number of traditional financial institutions have recently made a concerted effort to expand their services into the Web3, or at least set the stage to do so. Case in point, investment banking giant JPMorgan became the first major bank to open a metaverse lounge in Decentraland earlier this year. In addition, in February, the New York Stock Exchange applied for Web3 trademarks and showcased its views space favorably.
