Mastercard Files Trademark for Crypto and Blockchain Software Facilitating Seamless VASP Connections
Global payment technology giant, Mastercard, has generated buzz by filing a trademark application for the development of crypto and blockchain software. This strategic move indicates Mastercard’s interest in exploring and leveraging the capabilities of cryptocurrencies and blockchain technology within its extensive range of financial services.
In a recent development, Mastercard has applied for a trademark encompassing a range of tools related to crypto and blockchain technology. Patent attorney Mike Kondoudis has revealed that Mastercard aims to create specialized software to streamline transactions involving cryptocurrencies and blockchain.
This move highlights Mastercard’s intent to delve into the realm of digital assets and leverage blockchain’s potential for enhanced transactional efficiency.
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Mastercard’s Trademark Application Progressing
On June 12, 2023, Mastercard submitted a trademark application for cryptocurrency-related services to the United States Patent and Trademark Office (USPTO). The proposed software aims to establish a seamless network connecting various virtual asset service providers (VASPs) for secure and efficient crypto transactions.
Additionally, Mastercard is developing API software with a focus on verifying interactions within blockchain networks during cryptocurrency processing and exchanges.
Mastercard’s initiative positions the company to be a major player in the evolving digital currency and decentralized ledger technology landscape. By developing these tools, Mastercard aims to bridge the gap between traditional financial systems and the world of cryptocurrencies.
The goal is to offer improved accessibility and convenience for individuals and businesses involved in cryptocurrency transactions.
Mastercard has recently taken significant strides to expand its presence in the cryptocurrency space, including pursuing partnerships with prominent crypto exchanges. These steps reflect Mastercard’s commitment to advancing its involvement and exploring opportunities within the crypto industry.
Also Read: Mastercard is set to expand its crypto payment card programme
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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