Two new companies, HSBC and Fidelity Investments, are betting on the Metaverse to offer more innovative products and services to their clients and users. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
HSBC and Fidelity Investments are heading into the Metaverse
📍HSBC has just filed two patent applications with the USPTO to enter the world of cryptocurrencies and the Metaverse. Patent applications submitted by banking giant HSBC to the United States Patent and Trademark Office (USPTO) revealed its interest in creating new products and services related to the virtual world, including cryptocurrencies, NFTs and the metaverse.
Trademark attorney Mike Kondoudis reports on HSBC's patent applications to register its brand name and logo with the USPTO to explore the virtual world.
On the other hand, just like the banking giant HSBC, the American company specializing in asset management, Fidelity Investment, is also preparing to make its entry into the virtual world. The company sent three patent applications to the USPTO, outlining its interest in creating an NFT marketplace, offering cryptocurrency trading and metaverse investment services, and much more.
Mark Cuban and Bill Miller defend Bitcoin investment
📍Two big investors, Mark Cuban and Bill Miller, think it's smart to invest in Bitcoin for the long term. Bitcoin is a good investment, according to Dallas Mavericks owner Mark Cuban. Cuban said that Bitcoin is a stored value in a podcast hosted by Bill Maher, a proponent of gold as an investment asset.
“I want bitcoin to go down a lot more so I can buy a little more,” the investor said, reminding his audience that this is a personal opinion and not an investment recommendation.
For his part, American investor and fund manager Bill Miller reaffirmed his position on Bitcoin, indicating that the market-leading cryptocurrency is a good long-term investment. “You should do pretty well in Bitcoin if you have a long-term horizon,” said Miller according to Healthy Pockets channel founder Hugo Botto.
New law in Japan could benefit global stablecoins
📍The Japanese government plans to lift existing bans on trading in global stablecoins. Japanese news agency Nikkei reported that the country's current government plans to repeal, next year, a national ban that prevents the circulation of global or foreign stablecoins, such as USDC and USDT, whose value is pegged to the US dollar.
Currently, none of the authorized cryptocurrency exchanges and trading platforms in Japan offer services with these stablecoins.
The lifting of Japan’s ban on stablecoins could benefit the remittance market, but it would also mean increased regulatory scrutiny for the country’s crypto industry. Japanese regulators have emphasized the need to mitigate the potential risks of crypto assets, but have also been easing several of their regulations, such as tax laws, to prevent companies from fleeing the country.
Cuba joins the regions blocked by Opensea
📍Cuban artists and creators are blocked from accessing Opensea, the largest NFT marketplace in the crypto industry. Although Opensea claims to be a platform where artists, creators and consumers can freely exchange digital items, the marketplace has blocked Cuban users in order to comply with sanctions imposed by the United States government.
The news was released by the art market website Artnet, indicating that some 30 Cuban artists' accounts have been blocked from the NFT platform this week.
Other countries where artists are blocked from accessing Opensea include Venezuela, Iran and Syria, the website reported.
Continue reading: One in five consumers trust cryptocurrencies as an alternative payment method
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
