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Fidelity Files Web3 Trademark Application For Virtual Investment Services

Milestone Date: December 21, 2022

Trademarks & Intellectual Property

Fidelity Investments has filed trademark applications with the USPTO, signaling the investment enterprise’s potential plans to develop Web3 products and services.

Attorney Mike Kondoudis revealed the filing details, which include NFTs, NFT Marketplaces, Metaverse Investment Services, Virtual Real Estate Investing, Cryptocurrency Trading, and more.

The firm seems particularly keen on the metaverse, as the filing suggests Fidelity could offer virtual investment services such as mutual funds, retirement funds, investment management, and financial planning.

The filing also reveals that metaverse-based payment services like electronic bill payments, fund transfers and the “financial administration of credit card accounts in the metaverse and other virtual worlds” could be on the roadmap. “Electronic wallet services in the nature of electronic storage and processing of virtual currency for electronic payments and transactions via a global computer network; digital currency, virtual currency, cryptocurrency digital token,” is also noted in the filing.

Other financial institutions have made moves in Web3 as well. J.P. Morgan executed its first public blockchain transaction last month, as a part of The Monetary Authority of Singapore (MAS)’s Project Guardian’s digital asset and bond tokenization pilot (one of eight different pilots under the Project Guardian umbrella). Retail investor platform Robinhood revealed its plans to launch a Web3 crypto wallet earlier this year.

By Elizabeth Morrison

Published:December 22, 2022

Sources

Social Media ( including podcasts)

Tweet: #Fidelity has plans for the metaverse!

The Law Office of Michael E. Kondoudis, PC

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