PURCHASE, N.Y.—Mastercard has filed a trademark application for a series of cryptocurrency and blockchain-based tools.
“The application suggests that Mastercard plans to develop software for cryptocurrency and blockchain transactions and aims to interconnect virtual asset service providers for streamlined crypto transactions,” U Today reported.
According to the report, the trademark application details highlight the development of downloadable application programming interface (API) software aimed at verifying interactions using blockchain networks and processing or exchanging cryptocurrencies. The API software is also intended to connect virtual asset service providers to facilitate crypto transactions, the report added.
What Application Suggests
“The application…suggests that Mastercard plans to develop software for cryptocurrency and blockchain transactions and aims to interconnect virtual asset service providers for streamlined crypto transactions,” U Today reported. “The trademark application offers an intriguing glimpse into the ambitious crypto plans of Mastercard. Its details highlight the development of downloadable application programming interface (API) software aimed at verifying interactions using blockchain networks and processing or exchanging cryptocurrencies.
Intention is to Connect
“The API software is also intended to connect virtual asset service providers to facilitate crypto transactions,” the report continued. “As part of the financial services segment, Mastercard aims to develop a mechanism for exchanging consumer metadata between financial institutions for compliance purposes.”
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