The leading payment provider Mastercard has often appeared in the crypto news due to its prominent crypto strategy. The payment services provider already has numerous collaborations with huge crypto companies to its name and seems more than convinced of a thriving future when it comes to digital assets. To gain more foothold in cryptoland, Mastercard has now submitted a new trademark application.
Web3 trademark application Mastercard
On June 19, lawyer Michael Kondoudis broke the news that Mastercard filed a trademark application with the U.S. Patent and Trademark Office (USPTO).
#MasterCard is continuing its move into #crypto!
The payment processor has filed a trademark application claiming plans for
▶️ Software for crypto + blockchain transactions
▶️ Interconnecting virtual asset service providers for crypto transactions#Web3 #DeFi #Cryptocurrency pic.twitter.com/Pz1m5gau10— Mike Kondoudis (@KondoudisLaw) June 19, 2023
Kondoudis said that Mastercard aims to introduce a software for crypto and blockchain transactions and connections between them virtual asset service providers wants to establish to enable seamless crypto transactions.
However, the trademark application does not provide specific details about the launch of products and services, so for now it remains mainly a guess as to the next step in Mastercard’s crypto strategy.
Mastercard and crypto
The payments giant’s filing is just one of recent steps it has taken to push forward its crypto strategy after deciding alongside Visa in late February to suspend plans for new partnerships with crypto firms. This decision was due to the poor market and regulatory conditions and did not change their confidence in crypto and blockchain for the long term.
However, Mastercard now seems to be back on track in terms of its involvement in the crypto sector. In March, for example, it entered into a partnership with the major crypto exchange Bybit for the launch of a debit card that allows users to pay with crypto.
At the end of April, Mastercard also revealed the expansion of its crypto payment card program, stating that it plans to increase its extensive list of collaborations with crypto companies. Big names such as Binance, Gemini and Nexo already offer crypto payment cards in various countries in collaboration with Mastercard.