Mastercard, a prominent player in the payment processing sector, has submitted a trademark application to safeguard its novel cryptocurrencies and blockchain-driven instruments.
This move signifies the endorsement and backing of conventional financial establishments towards these nascent technologies and showcases Mastercard’s growing engagement in the realm of digital assets.
The trademark application filed by Mastercard aims to streamline the usage of blockchain technology and cryptocurrencies. Mastercard aims to enhance digital currency transactions by creating software that simplifies interactions among different virtual asset service providers (VASPs) and enables seamless crypto transactions.
Mastercard is stepping into the crypto realm with a new trademark application for blockchain and crypto transaction software.
To streamline crypto transactions and foster seamless connectivity between VASPs. This move, filed under serial number 98038563 with the… pic.twitter.com/JrPQrcIpez
— Dagnum P.I. (@Dagnum_PI) June 20, 2023
The filing of the trademark application sheds light on Mastercard’s strategic vision for blockchain and digital currencies. Mastercard plans to develop downloadable software that incorporates application programming interfaces (APIs) to authenticate and manage transactions on blockchain networks. The software will also enable the exchange of digital currencies, with the aim of promoting the widespread adoption and utilization of cryptocurrencies.