Recent trademark registrations suggest that payments behemoth American Express (AXP) is planning a foray into the metaverse. The corporation applied for trademarks for its logos and products, such as the Centurion black card and the “Shop Small” initiative. Amex is also interested in virtual payments and electronic business transactions for digital media and non-financial transactions.
Amex’s applications come at a time when traditional banks and huge enterprises are increasingly looking to expand their metaverse exposure. JPMorgan recently opened a Decentraland lounge and published a paper on how firms might identify possibilities in the expanding metaverse.
IMA Financial Group, a large insurance broker and wealth management organization based in the United States, has also created a research and development facility in the Ethereum-based metaverse.
With huge payment corporations increasingly attempting to ride on fiat-to-crypto rails, it may only be a matter of time before one can purchase consumer products and services in the metaverse using normal credit cards.
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