Mastercard Submits Fresh Trademark Application For Crypto Tech

According to a recently discovered patent application, Mastercard plans to develop software optimized for bitcoin and blockchain transactions. The second-largest payment-processing corporation also aims to facilitate crypto-based transactions by reducing connections between virtual asset service providers. Crypto News reports: The trademark application is a fascinating window into Mastercard's plans for the future of digital currency. Details have been revealed about creating a downloadable application programming interface (API) designed to verify transactions inside blockchain networks and ease the handling or trading of cryptocurrency. By standardizing this API software, communication between VASPs may be streamlined and crypto transactions easier. Mastercard wants to set up a platform for financial institutions to exchange customer information to verify compliance. This new step is significant for Mastercard's fast-growing presence in the cryptocurrency sector. The corporation announced its intention to offer a limited number of cryptocurrencies on its network in February 2021.

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