Payments processing giant Mastercard is filing a trademark application for a number of crypto blockchain tools in its latest advancement in the digital asset space.
According to the U.S. Patent and Trademark Office application, Mastercard intends to introduce software for crypto transactions and create links between virtual asset service providers.
Says the trademark filing,
“MASTERCARD CRYPTO CREDENTIAL trademark registration is intended to cover the categories of downloadable application programming interface (API) software for verifying interactions using blockchain networks; downloadable application programming interface (API) software used in processing or exchange of cryptocurrencies and blockchain transactions, namely, identity management and authentication tools; downloadable application programming interface (API) software for connecting virtual asset service providers (VASPs) to other VASPs financial institutions to facilitate crypto transactions; downloadable application programming interface (API) software for facilitating exchange of consumer metadata between financial institutions for compliance purposes.”
Prominent trademark attorney Mike Kondoudis called attention to the application.
Mastercard has taken a number of steps in the crypto space so far this year.
In April, Aptos Labs, the company behind layer-1 blockchain Aptos (APT), announced it was partnering with Mastercard on its Mastercard Crypto Credential effort, a set of common standards for attestation of financial interactions on blockchain networks. The use cases of the new framework include remittance and payment solutions.
Mastercard also announced in March it was partnering with cryptocurrency exchange Bybit to launch a debit card capable of making transactions using digital asset holdings.
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Source: https://dailyhodl.com/2023/06/21/payments-giant-mastercard-files-trademark-for-set-of-crypto-and-blockchain-tools/