People: Famous YouTuber MrBeast is reportedly launching his own cryptobank

A banking influencer? Famous YouTuber Jimmy Donaldson, also known as MrBeast, can expand his media and business empire by taking part in the financial sector. According to reports, the social media star has filed for trademark registration for a mobile banking app which includes cryptocurrency which will be an important new step in the diversification of its activities. Here’s what we know about this rather unexpected case.

Key points of this article:

• Jimmy Donaldson, also known as MrBeast, has filed for a trademark for a banking app involving cryptocurrency, marking an unexpected expansion of his media empire.
• The trademark application currently under review aims to offer various digital financial services, underscoring MrBeast’s ambitions to turn its popularity into a true financial institution.

MrBeast is applying to trademark MrBeast Financial Application for trademark registration “ MrBeast Financial » was filed on October 13 by the company Beast Holdings LLC to the United States Patent and Trademark Office (USPTO), for the first time reported Newsweek. If approved, the project will offer a full spectrum digital financial services confirming MrBeast’s desire to turn his massive popularity around on YouTube to a real financial institution.

Services which this app potentially offers, will be particularly broad, and the brand will aim to include, among others:

• Exchange cryptocurrency and payment services.
• Banking and investment management services .
• Services of consumer loans, insurance and short-term cash loan .
• Consulting and educational services on issues of financial well-being .

The project appears to be the result of a March Business Insider report that said the company MrBeast is already exploring the idea of ​​starting a financial services business, offering loans, credit cards and banking services. Therefore, such a development will be part of a well-thought-out business plan strategies .

Jimmy Donaldson the world’s most popular YouTuber from 446 million subscribers will obviously be an important step in fintech. Its success, in addition to video content, is already based on diversification, thanks to successful launches of such chain virtual restaurants Beast Burgers chocolate brand Feastables and food initiative Lunchly .

What if MrBeast started his own bank? – Source: Compte X

A mix of genres that challenges professionals However, as Newsweek reports, this intersection of mass influence and finance raises questions among experts. Lee McKnight an associate professor at Syracuse University, admits that MrBeast “has a good sense of opportunity, positioning itself in banking and digital assets.” However, he is concerned about the risks to consumers “new opportunities for fraud and abuse”, if financial choices are influenced by social networks.

For his part, Simon Taylor an expert in fintech, sees the project as a logical extension of the MrBeast empire, which may well work! In his opinion, this initiative “fits with MrBeast’s positioning of making useful concepts fun” .

If launched, the app will directly link the brand MrBeast known for its spectacular challenges and charitable shares, with the personal finances of millions of his fans. The trademark application is currently under review by the United States Patent and Trademark Office (USPTO).

This trademark application demonstrates Jimmy Donaldson’s ambitions to build an empire that extends far beyond YouTube. Focusing on the world of finance and cryptocurrencies, it operates in a high-risk but potentially profitable sector. Stay tuned…

Source: journalducoin.com