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Japanese IT giant Fujitsu has filed a new trademark application with the U.S. Patent and Trademark Office (USPTO), suggesting a major expansion into Web 3 and blockchain operations.
Licensed trademark attorney Mike Kondoudis noted that Fujitsu is keen on exploring new areas different from its original communications technology equipment services. The firm’s application gave hints that apart from dabbling into blockchain, it will make a foray into offering banking and financial services in the future.
Is #FUJITSU moving into banking, finance & crypto?
The international tech co has filed a trademark application for
▶️ Exchanging money
▶️ Securities trading
▶️ Insurance brokerage
▶️ Tax planning
▶️ Cryptocurrency trading#Crypto #Web3 #Fintech #Banking #Finance pic.twitter.com/zLkrRZgdny— Mike Kondoudis (@KondoudisLaw) March 21, 2023
“Is Fujitsu moving into banking, finance, and crypto?” Kondoudis read. “The international tech company has filed a trademark application for exchanging money, securities trading, insurance brokerage, tax planning, and cryptocurrency trading.”
The wording of the trademark filing suggests that digital currencies will form the core of Fujistsu’s expansion as it expressly mentions “financial broker services for cryptocurrency trading,” “financial management of crypto assets,” and “financial exchange of crypto assets.”
Fujitsu has been showing an affinity for Web3 and blockchain since the start of 2020, culminating in the launch of an acceleration platform for startups in the industry. Fujitsu’s Web3 Acceleration Platform is focused on providing an enabling environment for firms building with blockchain to thrive by providing funding and technological support.
“The platform will contribute to the realization of a rich ecosystem that empowers users to create new applications for Web 3, allowing for new ways to interact, create, and share data freely and securely for use cases including digital content rights management, contracts, business transactions, and processes,” Fujitsu said.
The company’s latest filing with the USPTO suggests it will offer custody services for securities and precious metals and dabble into the insurance sector. Fujitsu’s filing also indicated an interest in real estate, with the wording pointing at offering “agency services for leasing or rental of land” and other affiliated services.
Trademark filings hint at growing Web3 interest
A glance at a recent filing with the USPTO suggests that large conglomerates are turning to Web3 in droves in a bid to ride the wave of innovation. For these firms, the metaverse provides an option for their innovative drives, with financial companies making filings to expand their services to virtual worlds.
Fashion and gaming firms are not left out in the mad dash as they turn to non-fungible tokens (NFT) to offer consumers new ways to interact with their services. Gaming firms like Sony, Nintendo, and Microsoft (NASDAQ: MSFT) have all filed patents with the USPTO to include blockchain in their consumer offerings.
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