Fidelity filed US metaverse trademarks to offer virtual investment and other options.
Fidelity has filed three metaverse-service trademark applications to enter the crypto sector.
Fidelity has started the process of entering the cryptocurrency market by submitting three trademark applications for the provision of services in the metaverse. The company intends to offer its traditional financial services in several virtual worlds, according to the paperwork filed.
According to trademark lawyer Mike Kondoudis, the company recently filed a number of trademark applications that include terms for trading in cryptocurrencies, non-fungible tokens (NFTs), NFT marketplaces, metaverse investment opportunities, and digital real estate.
Fidelity, which has embraced digital assets more quickly than the bulk of other large financial institutions, announced intentions to hire 100 more experts in the cryptocurrency field in October, bringing the team's total size to 500.
Fidelity is keeping up with the expansion of its assets in the sector despite the protracted bear market. The conglomerate started a waiting list for Fidelity Crypto in November, a bitcoin product targeted at retail customers.
The company gained notoriety in April when it declared that it is contemplating adding Bitcoin as a potential investment option to its 401(K) plans. The decision to allow retirement plan members to make cryptocurrency investments was then requested to be reviewed and rejected by three US senators. The senators claim that the business has become more "volatile, disruptive, and unpredictable."
In addition, Fidelity Digital Assets began supporting Ethereum (ETH) trading for its institutional clients in October. Given that Fidelity controls $2.7 trillion in assets, the new disclosures the business has made regarding the metaverse are undoubtedly notable.
