- Japanese tech giant Fujitsu has filed a trademark application in the U.S. for crypto products and services
- The filing includes the transaction of crypto assets and broker services
- The application may be related to Japan’s plan to create a public metaverse area
Japanese IT giant Fujitsu may be entering the crypto trading game after submitting a trademark application to the United States Patent and Trademark Office (USPTO) for multiple cryptocurrency products and services. The application was filed with the USPTO last Thursday and describes numerous goods and services including the “financial management of crypto assets,” “financial exchange of crypto assets,” and “financial broker services for cryptocurrency trading.” The application seems to be related to Japan’s desire to invest heavily in Web 3.0 technologies as it was filed the same day as these plans were announced, with Fujitsu being a signatory.
Filing Made on the Same Day as Metaverse Announcement
Fujitsu’s application was spotted by USPTO trademark attorney Mike Kondoudis, who referenced it on Twitter:
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
While the trademark application may seem a departure for Japan’s biggest IT firm, especially given that it has been filed in the U.S., when looked at the context of the Japanese government’s plans it’s less of a surprise. On the same day that this filing was made, an agreement was signed by a raft of Japanese tech and financial companies, including Mizuho Financial Group, Mitsubishi, and Fujitsu to establish the Japan Metaverse Economic Zone.
Fujitsu Working with Japanese Tech and Finance Titans
The Japan Metaverse Economic Zone will utilize the ‘Ryugukoku’ platform as its primary entry point, enabling other metaverses to operate as cities, with each of the founding companies contributing a specific range of technological features to the development of this project. For instance, Mizuho Financial Group will leverage its expertise in payment systems and metaverse tokens, whereas Mitsubishi UFJ Financial Group, which joined forces with Coinbase in 2021 to introduce its services in Japan, will facilitate Web3 functions and assist in executing plans for global expansion.
However, Fujitsu’s filing suggests that it, too, will be involved in the buildout of certain areas of the digital asset exchange mechanism, although it’s not yet clear how, or indeed if, it is related to the U.S. trademark application.