Simply put
- MrBeast has submitted a trademark application for MrBeast Financial, an app aimed at providing services like virtual currency exchange, payment processing, banking, and insurance.
- To launch such a platform, YouTubers would require FinCEN registration, a state money transmitter license, and SEC/CFTC approval, none of which have been filed yet.
- This adds to the 52 trademarks owned by his company, though not all have transitioned into actual products or services.
Social media influencer James Stephen Donaldson, known as MrBeast, has filed for a trademark for MrBeast Financial. The plan is to develop a downloadable app that will offer cryptocurrency exchange and payment processing.
The trademark application also includes investment banking services, insurance, financial wellness education, microfinance lending options, and “financial exchange of cryptocurrencies via decentralized exchanges (DEXs).”
If Mr. Donaldson wants to use the MrBeast Financial brand for a virtual currency exchange or payment platform, he must register with FinCEN as a financial services provider, obtain a state money transfer license, and gain approval from the SEC or CFTC based on how the platform functions.
As of now, it seems he hasn’t submitted those applications. There hasn’t been an immediate response from MrBeast Holding regarding inquiries.
MrBeast currently holds the title of the most subscribed individual creator on YouTube, boasting 446 million subscribers. He has gained fame for his extravagant challenges, like recreating the Squid Game for a $456,000 prize or giving away a private island. He even sets other YouTubers against each other for high-stakes prizes like a private jet.
MrBeast has also engaged with cryptocurrencies since at least 2021. He’s made investments in startups, acquired flashy NFTs, and once owned at least eight CryptoPunks. Cryptocurrency enthusiasts often keep a close watch on his public wallets, looking for any signals or noteworthy transactions.
This latest trademark application was submitted by Mr. Donaldson’s parent company, Beast Holdings, on Monday but has yet to be assigned to an examiner.
If approved, this would expand his company’s portfolio to 52 different trademarks. These range from MrBeast Gaming to MrBeast Burger and even include his charitable endeavors. While some have become actual products, others remain more aspirational.
MrBeast Burger initially launched as a ghost kitchen service, working with local restaurants to fulfill orders. Now, it has physical locations, including one at the American Dream Mall in New Jersey.
The MrBeast Bar trademark was introduced alongside a snack company, but it faced backlash after Mr. Donaldson urged fans to clean up chocolate bar displays in stores, offering a chance to win $5,000 for proof of compliance.
He also launched a mobile game named Touch the App, where players had to keep their fingers on their screens, with a reward of $25,000 for the last person remaining.
Other initiatives like Beast Mode and MrBeast Mode have yet to come to fruition, though it’s standard practice for companies to file defensive trademarks to protect their brand from misuse.
Recently, other companies have entered the cryptocurrency trademark space as well, including Ripple Laboratories, which has filed for “Ripple Custody.” The implication is that their offering involves “bank-grade storage solutions.”
JP Morgan created some buzz when it registered a trademark for “JPMD,” reserving it for “digital asset trading, exchange, transfer, and payment services.” Speculation arose that it could relate to a new stablecoin, although that hasn’t been confirmed.
