Both milestones come with 50 days to go to the tournament which begins in San Francisco on July 20.

The agreement with HSBC follows on from their existing title sponsorship of the World Rugby Sevens Series.

"HSBC believes that we can only fulfil our true potential by working in partnership," said Leanne Cutts, group general manager and group head of marketing at HSBC.

"Our rugby sevens partnership is built upon a joint commitment to grow the game and take it to new markets all over the world.

"A crucial challenge for the sport is to crack the lucrative but competitive US market.

"That's why we're excited to be the official banking partner of the Rugby World Cup Sevens 2018.

"We believe the time is now for the United States to embrace sevens and if it does, it could start a chain reaction that takes the sport across North America and ultimately, across the world."

As part of the agreement, HSBC will continue to support the development of rugby sevens in North America by commissioning a new documentary following the US Sevens team, titled The Pioneers.

The documentary will be an exclusive "access-all-areas" film to track the stories behind the US team, with the aim of attracting new fans to the sport.

World Rugby have claimed recent Nielsen Research found the US has the largest proportion of rugby fans globally with 33 million.

The governing body also claim HSBC's support has been instrumental in supporting the development of the Sevens Series which has continued to grow and expand its fanbase.

The Rugby World Cup Sevens competition will take place over three days at the home of the San Francisco Giants baseball team, AT&T Park.

A total of 40 teams across both the men's and women's competitions will contest a knock-out format.

"Today marks an exciting milestone with just 50 days to go until the Rugby World Cup Sevens kicks off at the iconic AT&T Park in San Francisco this summer," Bill Beaumont, World Rugby chairman, said.

"With the tournament's new and innovative 'knock-out' structure meaning that every game counts, it promises to be a spectacular weekend of rugby.

"World Rugby has had a long-term and successful partnership with HSBC as title partner of the HSBC World Rugby Sevens Series and they have made a great contribution to the global promotion of the sport.

"We are delighted to welcome HSBC on board as official banking partner ahead of the highly anticipated Rugby World Cup Sevens 2018."

World Rugby have revealed the tournament mascot, Rookie, as part of the countdown.

The mascot is a bald eagle, a bird of prey which has been the emblem of the US.

The tournament will conclude on July 22.