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American Express  (NYSE: AXP) Files NFTs-Linked Patent And Metaverse Patent Applications

By
Adam Barry
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0

American Express  (NYSE: AXP) moves into a space navigated by only a few leading banks, and that is the navigation of the Web3 applications. The others that have dared to move into the segment include Visa Inc (NYSE: V), Mastercard Inc (NYSE: M.A.), and JPMorgan Chase & Co (NYSE: JPM).

Filings

The licensed trademark attorney working with U.S. Patent and Trademark Office (USPTO) Mike Kondoudis tweeted about American Express and its achievements. He disclosed how the bank has successfully filed about seven trademark applications. The applications are linked to the bank’s iconic Centurion logo and virtual services. He also talked about the metaverse trade applications.

The trademarks went by the following serial numbers: 97302865, 97302893, 97302767, 97302817,  97303042, 97303060, and 97302955. Some of the logos in question include American Express, the exclusive luxury payment brand Centurion, AMEX, the Shop Small initiative, Membership Rewards, and the Centurion logo. Two belonged to American Express, whereas the rest had one each.

Anticipated changes

Analysts depict something progressive about the trademarks in question, which is in regards to what the future portends. They forecast that the shift might later result in the use of cards more widely in the metaverse. The other areas would include supporting metaverse banking services, electronic money transfers in the metaverse,  cryptocurrency exchange services, metaverse travel agencies, and virtual currency exchange.

One of the USPTO filings forecasts the changes that might happen soon, which is the anticipated change in the metaverse. A shift will create significant changes in the metaverse, including providing card payment services, banking services, ATM services, and fraud detection to customers within the segment.

An AmEx spokesperson discloses details about the efforts they continue channeling towards embracing high technology to benefit customers. He speaks out about the technologies and their role in simplifying matters for the customers and adds that they will be doing more within the metaverse segment.

American Express has a lot of plans underway. One of them is the provision of rewards in most virtual worlds and the metaverse. It will also support electronic business transactions within the spaces mentioned above.

American Express  (NYSE: AXP) Discloses Information About Its Planned Entry In The Metaverse Following Several Trademark Filings

By
Adam Barry
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0

Several leading banks intend to enter the metaverse and some other virtual worlds, but they are only a handful because of the hesitation among most of them. However, American Express  (NYSE: AXP) has spoken severally about its desire to explore the Web3 applications, and it seems to have made significant steps forward. The world’s second-largest payments processor vows it will serve customers with “virtual concierge services,” in which case it brings about the possibility of using credit cards.

Metaverse seems to be the future

Through a tweet, the licensed trademark attorney who works with the U.S. Patent and Trademark Office, Mike Kondoudis, brought to the limelight the various changes sweeping across the metaverse and other virtual worlds. He indicated that American Express and others had filed their NFT and metaverse trade applications.

American Express wants to channel its efforts and mobilize resources to support the use of cards in the metaverse. It also focuses on the metaverse virtual currency exchange, crypto exchange services, and electronic money transfers.

The impact of the new wave

An AmEx spokesperson points out how they have always been active and quick to embrace any opportunity to enhance customers’ lives. For example, they have been quick to embrace emerging technologies and doping all within their means to ensure that customers benefit from them.

He indicated that they had been channeling their attention to the metaverse and considering how they could succeed within a space where only a few banks have dared to try. American Express is proud of its success in filing a series of trademark applications linked to its designs and logos. It hopes to make significant steps in the metaverse, outlining that it wants its customers to enjoy diversity.

American Express hints at some of its applications and what it wishes to achieve with each of them. It intends to achieve a lot with its logos and branding, pointing out specifically to the use of virtual payment cards within the metaverse. It wants to support banking services in the metaverse and speaks about the use of its card in the marketplace.

Coinbase Empowers Users After It Brings The Possibility To Fund Wallets From Chrome Browser Extension

By
Adam Barry
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0

Coinbase puts its users’ needs first, which is why it is always on the look-out for new technologies to help serve them better. It has indicated a shift where most users will have it easy to fund their wallets. It has set up a Chrome browser extension that they will use to fund their wallets.

The launch of Coinbase Pay

“Coinbase Pay” unveiling indicates its determination to serve clients better. It outlines that the direct funding of the wallets from the most considerable Chrome browser extension will be more convenient for the user.

The Coinbase staff has spoken about the latest development pointing to their plan to simplify matters for anyone that wishes to purchase nonfungible tokens or swap tokens on decentralized exchanges. It is also attractive to all persons that need to participate in decentralized finance.

The staff wrote, “Before Coinbase Pay, users who wanted to add funds to their Coinbase Wallet from the browser extension needed to navigate to Coinbase.com, sign in to their account, copy-paste their wallet address, and manually transfer funds from their Coinbase account. The process was not only cumbersome, but also left the user vulnerable to user error.”

Simplifying the process for users

The latest change favors users by making the process easier than it was before. They move through just a few steps to accomplish their goals. It is a process that starts with selecting the currency that one needs to add to the wallet on Chrome. It is essential to specify the particular amount before making the confirmation of the transaction in question.

The latest change eliminates the need to switch between the various apps and the cumbersome copy-pasting of addresses.

Another exciting change for users is that it won’t be mandatory to own a Coinbase.com account whenever they need to use a Coinbase wallet. The company has also disclosed its plans to move into the future. It outlines that it might soon unveil its own NFT marketplace. It hopes to achieve a lot in the future. Also, it discloses details about the number of addresses recorded on the Coinbase NFT waitlist. The number stood at 3.86 million by the time of this publication.

Ukraine’s Volodymyr Zelenskyy Signs Into Effect A New Law Targeting The Creation Of A Regulatory Framework For Crypto

By
Adam Barry
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0

The president of Ukraine, Volodymyr Zelenskyy, has signed a new law that establishes a regulatory framework for CryptoCrypto. He is currently in Kyiv and has spoken about how the latest move will set up a legal framework for his country to run operations on a regulated crypto market. The president sees the need to channel his focus on Cryptocurrency for the good of the country’s citizens. Reports indicate that the National Bank of Ukraine is facing shortages in cash withdrawals at banks, and the latest move is expected to play a crucial role.

Reasons for change

The Russian invasion that started on Feb. 24 has caused significant losses in the country, which has attracted massive humanitarian causes. A great deal of the humanitarian help moves to support the country’s military in its struggle against the Russian forces.

The Ministry of Digital Transformation outlines, “The signing of this law by the president is another important step towards bringing the crypto sector out of the shadows and launching a legal market for virtual assets in Ukraine.”

The new law empowers Ukraine’s National Securities and Stock Market Commission to play several important roles. One of its commitments is to determine policies that will govern digital assets in the country. The other role it will play is issuing licenses to the various business entities dealing in CryptoCrypto. Finally, the law also endows the body to serve as the financial watchdog.

Ukraine’s Ministry of Finance has a lot to do: the anticipated amendment of the country’s civil codes and tax to accommodate the legal framework for the diverse digital assets.

A new dawn for Ukraine

It is a new dawn where Ukrainian and foreign cryptocurrency exchanges will run operations legally, with most banks expected to serve the various crypto companies through account opening operations. It is a transformational moment for Ukraine, considering the anticipated development of its VA market.

On Monday, Ukraine’s biggest crypto exchange Kuna participated in the unveiling of a donation platform with FTX. The new platform targets creating a leeway for uses to send Cryptocurrency to show solidarity with the people of Ukraine in their fight for freedom.

Chevron Corporation (NYSE: CVX) Submits A Trademark Application For a Metaverse Logo and Name

By
Adam Barry
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0

Chevron Corporation (NYSE: CVX), an energy corporation, has submitted an application to the U.S Patents and Trademark Office (USPTO) for a Metaverse trademark for its logo and name. The company applied for the trademark on March 2, 2022.

This move highlights Chevron’s intent to venture into the Metaverse. It also intends to try Non-fungible tokens (NFTs), convenience store items, and renewable energy products like digital products.

According to Michael Kondoudis, a trademark attorney for the company, Chevron is trying to leverage the popularity of the Metaverse by applying for a trademark. This move would enable the company to make money from virtual services and goods.

Details of the applications

As per the application, the company plans to sell crypto-collectibles like NFTs. Moreover, the trademark is a Class 9 and includes downloadable goods that people can use in virtual spaces. It also includes software that users can download as mobile apps. These apps are for performing electronic transactions and browsing.

The company has also filed a Class 35 trademark which includes services in online retail stores. These products are renewable energy items, lubricants, fuel, gas, and products from convenience stores.

 Class 35 also reveals the company’s plans to begin an NFT marketplace. There is also a class 41 trademark covering entertainment services such as providing the company’s products in virtual reality settings.

 The final trademark is Class 42. It includes application tokens and crypto collectibles on the platform and application tokens and crypto collectibles on the software.

Other companies have filed trademarks

Chevron is just the latest among celebrities, brands, and corporations to move into the Metaverse. However, it is the first within the energy sector to do so. Other companies expanding into NFTs are Walmart, Monster Energy, McDonald’s, and Victoria’s Secret.

Celebrities that have filed for trademarks for their logos and names are Billie Eilish, Grandmaster Flash,  Dolly Parton, and KISS. Chevron adds that more people and major brands could file for trademarks in the next year.

In December 2021 alone, the USPTO got 407 applications. This number reached 450 in January 202, which means there were about 15 filings each day. The organization expects more people to file for trademarks.

President Joe Biden Signs An Executive Order To Evaluate Cryptocurrency 

By
Adam Barry
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0

U.S President Joe Biden has signed an executive order to review the country’s approach to crypto. Experts suggest that this could lead to the legitimization of crypto as an assets class. If this occurs, investors could finally have a framework for dealing with crypto leading to its widespread adoption.

Various agencies are to submit reports on their findings 

The executive order could create national guidelines for cryptocurrency. Moreover, the president has asked federal regulators to look into the opportunities and risks in the cryptocurrency sectors and how to regulate them.

Biden has asked the Treasury Department and other agencies such as the State and Justice Departments to submit the results of their investigations by September. The Biden administration has asked that their report include how a digital dollar could increase financial inclusion and its impact on economic growth.

The administration has also asked the Federal Reserve to focus on its research on a digital dollar. Additionally, Biden has told the agency to investigate how the country could implement a U.S Central Bank Digital Currency (CBDC).

According to Amplify Transformational data sharing ETF’s portfolio manager, Dan Weiskopf, the order indicates that the U.S government acknowledged the changes cryptocurrency could make. By issuing the executive order, President Biden is legitimizing the currency.

Weiskopf adds that Federal regulators could start by defining cryptocurrency as the term is too broad. Furthermore, many investors struggle to know if their digital assets are utility tokens or securities.

Government involvement with cryptocurrency is facing some opposition

However, this move has been met with criticism from Maximalists or Bitcoin purists. This group argues that government involvement is against the foundation of bitcoin, which is supposed to be an alternative form of payment that has no ties to any government.

Despite this, purists must consider that Bitcoin and other cryptocurrencies could only be successful with increased user adoption. In addition, people need to know how to assess cryptocurrency. This is brought about by governments getting involved.

Weiskopf hopes that purists will become more open to the government getting involved in cryptocurrency to increase the currency’s utility. It would also increase its acceptance by interested parties.

The U.S Treasury Commission Creates Mechanisms To Educate The Public on Cryptocurrencies

By
Adam Barry
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0

The U.S. Treasury Department recently announced that it was creating a program to educate consumers and investors on trading cryptocurrencies. This announcement follows the country’s developments to implement cryptocurrencies, thus evolving from a controlled platform to the central financial system.

A commission will help Americans make decisions related to crypto

In conjunction with regulatory bodies, including the Treasury’s Financial Literacy Education Commission, the Department will develop methods to educate the public on crypto services. In addition, the commission will develop mechanisms that assist the public in making better decisions on the operations of crypto assets.

A few households in the country cannot access various financial organizations and platforms; thus, the commission intends to alter the situation. The commission plans to develop mechanisms that will be accessed with people in such areas, thus creating an increased number of investors that enhance the trade.

Nellie Liang, the undersecretary for domestic finance, recently issued a statement saying that the Department is aware of the methods of buying and investing in digital assets. However, some investors do not know the complexity surrounding digital assets.

The commission treats this as an area that requires consumers and investors to get training on transacting with digital assets. The initiative addressed the worries around cryptocurrency and its potential risk to scammers and fraudsters. Since its inception, the crypto assets grew to a value of $3 Trillion during 2021; thus, more consumers subscribed to the platform. In addition, the education offered by the commission will create awareness and make the industry less complicated.

The commission will collaborate with various organizations to educate Americans

The commission intends to collaborate with various institutions such as the SEC and FTX. In addition, the organizations will create attractive market campaigns that include talks and concerts with paid partnerships with various celebrities.

The commission had its first run at the 2022’s super bowl that featured various celebrities and experienced audiences. The commission reiterated that it was aware of the risks that the digital assets present to the public; however, it would be prudent for the public to consider the benefits.

This news has had positive responses as cryptocurrency rapidly gains popularity. There have also been many crypto scams that people could avoid if they had the education.

The UAE Develops a Regulatory Body That Governs the Trading of Crypto Assets in the Country

By
Adam Barry
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0

The Vice President and Prime Minister of United Arab Emirates, His Highness Sheikh Mohammed bin Rashid Al Maktoum, recently announced his authorization to trade cryptocurrencies are related assets in the country. The renowned ruler of Dubai shared the news on his social media platform, thus creating a regulatory body that controls crypto transactions and trading.

The regulatory body known as the Dubai Virtual Assets Regulatory Authority will regulate any form of crypto trading, thus issuing privacy to potential investors across the globe. Furthermore, through His Highnesses’ social media platforms, the trading of digital assets in the country will position it in a better economic state.  

How Dubai Virtual Assets Regulatory Will Regulate Crypto trading

The selected Authority will perform various functions such as gathering information on the forms of crypto assets in the country. In addition, His Highness issued the Authority to create suitable protocols to protect all parties involved in the trading. The Authority must approve a few processes before it is carried out, including an investor’s requirement to run a cryptocurrencies platform or institution. 

During the announcement, the Vice President stated that allowing crypto trading positions UAE in the cryptocurrencies industry. In addition, the development will allow the country to invest and trade in cryptocurrencies across the globe. 

The country’s feedback following the announcement

Following the announcement, several citizens in the UAE and other crypto investors from across the globe supported the move. The citizens praised the Dubai Ruler for positioning the country into a platform of advancement and success. The world considers UAE a leader in cryptocurrencies assets, thus making it a developer on its level. 

The country was the first to welcome various advancements in the cryptocurrency industry, thus increasing its capability of managing the assets. Investors across the globe reiterated that the announcement develops a good sign because it protects all investors and potential consumers.

The country’s decision to authorize the trading of crypto assets protects investors and consumers. The regulatory body shall develop measures that create a transparency level that replaces the traditional methods. 

UAE’s decision comes as several governments try to regulate cryptocurrency. Countries like Venezuela support it while others like China have banned it.

Zambezi Gold States its New Token is as Good as Bitcoin

By
Adam Barry
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0

Zambezi Gold recently launched a new token known as ZGD, which the company declares is as good as Bitcoin. The company creates specific assets combined with precious minerals, including gold harvested from gold mines across Africa.

ZGD was distributed to investors across the country on various dates, issuing approximately 60 million pieces valued at $0.10. However, the estimated price only ran throughout the initial token sale stage following its launch, thus gaining several investors and consumers.

How Zambezi Gold plans to use proceeds from selling the tokens

The company’s estimates for the last stage of token sales are $0.25 running from the 14th April to 12th May 2022. Zambezi Gold intends to use the profits acquired from the sale of the tokens to create better and suitable means that allow investors to back up the token. Several investors plan to purchase the company’s gold plant and other local mining locations.

The gold-plated tokens possess genuine gold obtained from local mines and stored in a reputable custodian bank. The profits obtained from the sale of the tokens will assist the company in purchasing other mines, and the balance will advantage the token owners.

Zambezi Gold produces precious metals at a low price and fast pace

The company creates a unique business motto that allows it to create precious minerals at a reduced price but at an alarming rate. The low rates of the production of gold place Zambesi Gold at an advantage. This gives it the power to control the market and implement necessary rules. In addition, the company executed various agreements with investors, thus making the production of gold easier and more reliable.

The investors develop a mechanism that restricts a person from using the currency as collateral for a loan. The restriction will allow Zambesi Gold to grow its revenue margins from the sale of the tokens.

Due to the perception behind high gold prices, the currency is produced in low amounts, thus allowing it to increase in value with time. In addition, each token owner will enjoy receiving additional tokens in their vaults, thus appreciating the amount annually.

Huobi Technology Holdings Ltd (OTCMKTS: HUBIF)  Launches An Over-the-counter Cryptocurrency Service

By
Adam Barry
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0

Huobi Technology Holdings Ltd (OTCMKTS: HUBIF) is transitioning into crypto after years in the electronic space. The company, initially Pantronics Holdings, has been making and selling electronic products since 1990. However, it had announced that it has begun an over-the-counter (OTC) cryptocurrency service.

Huobi has been slowly moving towards cryptocurrency

The venture into cryptocurrency is not sudden as for years now, Huobi has been slowly venturing into the industry. Despite this change, Huobi Technology will not be part of Huobi Group, the owner of the Huobi Global Cryptocurrency Exchange. However, the companies have some of the same shareholders.

Huobi Technology will allow its investors to trade cryptocurrency through OTC with fiat currencies such as the U.S dollar and crypto block trading services. Moreover, it will add the Hong Kong dollar, British pound, and Euro into its services later.

This move will allow the company to grow tremendously and cement its place in the industry. The firm already has transactions of about $1.6 billion on its platform. Its token, Huobi Token, also has a market value of $2 billion. The new service will help the firm access more mainstream audiences and reach new heights.

Over the past few years, Huobi Technology has slowly introduced many crypto services. These include lending, trust, custody, and virtual asset management. In addition, it has received licenses from the Securities and Futures Commission, Hong Kong. It has also received a retail trust license in Nevada through its subsidiary.

When Huobi Technology first announced its entry into crypto, its stock rose to $3. However, it later dropped to below $1. The drop occurred in late 2021 due to China’s crackdown on cryptocurrency. Fortunately, Huobi’s efforts in the crypto industry have not gone unrewarded since it has the sixth-largest cryptocurrency exchange in the world.

Hong Kong is not subject to regulations from China

Since Huobi is in Hong Kong, it is not subject to the same crypto regulations that Beijing passes. Hong Kong, while part of China, is an autonomous administrative region for the country, meaning it doesn’t have to follow a lot of regulations made in China.

For this reason, crypto trading and mining are still legal in Hong Kong. The region’s attitude towards crypto is generally favorable. It has so far not placed any taxes on cryptocurrency.

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