- The company plans to develop software for crypto transactions and VASP consolidation
- Mastercard has not yet commented on the information.
- Prior to this, the firm had been wary of Web3 and even tried to distance itself earlier in the year.
Payments giant Mastercard has filed a new trademark application with the US Patent Office (USPTO). Judging by the papers, the company plans to develop software for mutual settlements in cryptocurrency and interconnection.
About it declares Attorney Mike Kondoudis. In his message, you can also find a screenshot of the application, which details the company’s plans.
It appears that Mastercard is about to launch a Virtual Asset Service Provider (VASP) platform designed to simplify interactions and reduce costs.
Also, the application, apparently, can be used for cryptocurrency transactions. But these are just guesses. So far, the company has not commented on this.
Company’s plans for the development of Web3
Recall that at the end of May, Mastercard recognized blockchain as a promising technology. Although before that, in March, information appeared on the network that the company, as well as some other payment giants, was distancing itself from the cryptocurrency segment.
This filing shows that Mastercard continues to see blockchain as an important element of the firm’s global strategy. However, the timing of the release of new developments of the company on the open market is still unknown.