Mastercard’s presence in the Web3 ecosystem is quickly growing, with a current focal point on virtual currencies. Attorney Michael Kondoudis for trademarks tweeted about the new trademark on Monday.
Mastercard recently achieved success in this sector by applying to trademark crypto-related security services. United States Patent and Trademark Office application for “Mastercard Crypto Secure,” filed on November 22.
The submission of these trademarks follows the banking giant’s April application to enter the metaverse and accept NFTs. The financial institution then began working with NFT markets and Web3 service providers to accept Mastercard for NFT purchases.
The lawsuit states that the company intends to provide digital marketplaces and multimedia content that are authenticated using non-fungible tokens. This suite of programs is designed to accept and process various forms of virtual payment, such as virtual credit cards, virtual prepaid cards, and virtual debit cards, and then to make that information available in the metaverse and other virtual settings.
The company has also just introduced Crypto Source, a program that makes it possible for banks to provide their consumers with safe bitcoin trading services.
Businesses and investors might have benefited from the app’s supposedly comprehensive risk management tools. The form contains the following data in addition to that about the crypto industry:
- Consultancy for assessing the risks facing businesses
- Professional Services for Evaluating Financial Risk
- Facilitating access to data concerning digital currency.
- Training on risk management, with expert advice Training for businesses to assess the risks associated with crypto transactions
- Cryptographic transactions may be monitored and analyzed in real-time thanks to a SaaS application.
- Providing a SaaS platform for assessing cryptocurrency-related fraud, compliance, regulatory, and reputational risk.
- The crypto industry has MasterCard’s backing
When compared to Visa, Mastercard is the world’s second-largest financial network. Other well-known networks for making financial transactions include Discover and American Express. The global network of participating financial institutions allows the financial giant to issue Mastercard-branded payment cards.
This major bank has just entered the crypto industry. The monetary behemoth has a lot to offer the burgeoning bitcoin industry. Mastercard, in addition to processing payments, may also produce performances and events in the metaverse that relate to virtual currencies, NFTs, and the financial sector more broadly.
The banking giant then formed alliances with web3 platforms and markets. One of these is the integration with Coinbase, which allows for the purchase of NFTs using Mastercard.
A tweet from the company’s account on January 18 announced the partnership with Coinbase to the public. The bank stated that it was seeking to broaden access to NFTs because it believes the tech sector should welcome all members of society.
Coinbase made a similar statement on its Twitter account on the same day. The company was overjoyed to be working with Mastercard, and the press statement urged customers to keep a watch out for creating new methods to buy NFTs using the payment system.
Mastercard launched cryptocurrency-linked payment cards with Bitkub in Australia, CoinJar in the US, and the Amber Group in Thailand in November 2017. All of the aforementioned establishments provide local cryptocurrency trading services.
Mastercard, like other prominent legacy financial organizations, has opted to reap the benefits of the DeFi and Web3 ecosystems. This proves beyond a reasonable doubt that the bitcoin market will not be going anywhere.