Traditional banking corporations are expanding their metaverse services, following JPMorgan’s recent entry into Decentraland, Payment giant American Express (AXP) is also planning a metaverse entrance.
American Express metaverse entry plan
The American Express or Amex registered trademarks for its logos and products, including the Centurion black card and the “Shop Small” initiative. Amex is also interested in digital payments and electronic commercial transactions including digital media and NFT. Amex’s applications arrive as conventional banks and major enterprises seek to increase their visibility in the metaverse. JPMorgan has built a bar in Decentraland and published a study that examines how corporations might identify possibilities in the expanding metaverse.
IMA Financial Group, a significant insurance agent and investment management organisation located in the United States, has also created an R&D facility in the Ethereum-based metaverse.
With huge payment corporations increasingly trying to ride fiat-to-crypto rails, it may only be a matter of time until one can purchase consumer products and services in the metaverse using normal credit cards.