MasterCard has just filed a trademark application for a crypto technology. Such an initiative reiterates the ambition of the payment giant to strengthen its position in this area. This will allow it to offer its global customers optimized solutions for Bitcoin and blockchain transactions.
Towards a simplification of crypto transactions with innovative technology
In recent years, MasterCard seems to show particular interest in Web3 and crypto. The payment giant has just file a trademark application for technology related to blockchain and cryptocurrencies.
As part of this innovative move, MasterCard aspires to simplify crypto transactions by reducing friction between virtual asset service providers. The objective is to create a downloadable application programming interface (API). This will make it easier to verify transactions within blockchain networks. But not only ! The new technology will also simplify handling and trading crypto.
MasterCard’s strategic expansion into the crypto market
The trademark application is an important step in MasterCard’s expansion into the crypto market. In February 2021, the company had already announced its intention toallow a limited number of cryptocurrencies on its network. Since then, MasterCard has multiplied partnerships and strategic collaborations in this area.
During 2021, for example, the company has partnered with several major players in the crypto industry. These include Bybit, Wirex, BitPay and LVL. MasterCard has also partnered with Bakkt, a crypto company. Added to this is the acquisition of Ciphertrace, a startup specializing in crypto analysis. MasterCard is even working with Uphold and Gemini to develop crypto credit cards.
It is also known that in February 2023, the payment giant announced the launch of an operational payment service through USDC.
Currently, MasterCard is accumulating blockchain-related patents and patent applications around the world. This confirms its desire to play a major role in this sector.
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