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American Express enters crypto, NFT world

American Express enters crypto, NFT world
Photo Credit: Pixabay
17 Mar, 2022
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With an aim to offer real-world services in the virtual world, American Express (AmEx) has filed seven trademark applications which include the usage of some of its logos and branding with virtual payment cards, conducting travel, concierge, banking (including ATM) services in the metaverse and using its cards at non-fungible token (or NFT) marketplace.  

Furthermore, AmEx has also indicated its plans to offer wallet services for digital and blockchain assets, a virtual currency exchange, and trading services for digitised and utility tokens. 

As per the applications submitted to the US Patent and Trademark Office (USPTO) on 16 March 2022, American Express is gearing up to provide “virtual concierge services” related to credit card transactions “in the metaverse and other virtual worlds.”  

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While American Express didn’t officially announce its plans, Mike Kondoudis, USPTO licensed trademark attorney tweeted, “AMERICAN EXPRESS has filed 7 trademark applications for its logos and AMERICAN EXPRESS, AMEX, CENTURION, SHOP SMALL, MEMBERSHIP REWARDS; Indicating plans to offer NFT backed multimedia, Cryptocurrency services, Virtual banking + exchange services (sic).” 

“Downloadable computer e-commerce software to allow users to perform electronic business transactions in the metaverse and other virtual worlds; digital media, namely, NFTs, featuring textual and graphic content,” as per the screenshots shared by Mike Kondoudis.