American Express Is Ready to Embrace the Metaverse and NFTs 

Payment card service company American Express (Amex) is considering joining the metaverse, thereby enabling virtual transactions and the use of the Amex credit card for the purchase of NFTs in the metaverse.

Amex has filed seven trademark applications in the NFT and metaverse categories with the U.S. Patent and Trademark Office. The trademarks contain the company’s name, logo, and membership rewards. They also list services and products such as the ‘Centurion Black Card,’ an exclusive credit card with no spending limit, and the ‘Shop Small’ program, a nationwide movement supporting small businesses and helping communities thrive.

Last October, Amex CEO Stephen Squeri stated that he doesn’t see crypto as a threat to the credit card industry. Although American Express currently has no plans to launch a credit card linked to cryptocurrency yet, the card is approved for stablecoin transactions.

On the Flipside

• In February, Wall Street bank JP Morgan decided to enter the metaverse by opening a  lounge in the ‘Decentraland’ virtual world, becoming the first bank worldwide to do so.