Mastercard files new trademark for blockchain-based tools

The famend world cost processor, Mastercard has filed a brand new trademark utility that covers cryptocurrency and blockchain instruments. In accordance with the patent legal professional Mike Kondoudis, the transfer illustrates Mastercard’s additional steps into crypto.

The appliance was filed with the US Patent and Trademark Workplace (USPTO) underneath the serial quantity: 98038563. Particularly, the trademark utility claims plans for downloadable functions programming interface API software program for:

Verifying transactions utilizing Blockchain networks.

Processing or alternate of cryptocurrencies and blockchain interplay.

Connecting digital asset service suppliers to different VASP’s monetary establishments to facilitate crypto transactions.

Facilitating the alternate of shopper metadata between monetary establishments for compliance functions.

Additional, the trademark doc additionally covers monetary companies and creating voluntary requirements for verification of interactions utilizing Blockchain networks. Moreover, the functions cowl non-downloadable software program for verifying interactions utilizing Blockchain networks.

Moreso, Mastercard appears to have reignited its pursuit of embracing Blockchain functions amidst market crackdown and tight regulatory scrutiny.

The agency’s involvement within the crypto world counts again to 2021, supporting chosen cryptocurrencies on its community. In April 2022, Mastercard submitted about fifteen extra trademark functions, claiming plans to discover non-fungible token (NFT) backed media, cost processing, and e-commerce within the metaverse.

Mastercard had beforehand acquired Ciphertrace, a crypto analytics agency, and companions with crypto exchanges like Gemini, Bitpay, and Wirex amongst others to supply crypto-centric cost playing cards. An additional partnership with crypto buying and selling networks, together with Binance and Nexo, to supply crypto cost playing cards.

Mastercard is ready to strategically place itself within the evolving world of digital funds, increase its choices, and apparently, combine Blockchain options into its community.

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