By George Ward
Famous card payment firm, Mastercard, has applied for a new crypto trademark (including Web3) with crypto security as its priority. It has applied for 15 trademarks centered around NFTs and Metaverse.
Institutional investors have not been discouraged by the crypto market downturn because it is now clear that several reputable organizations are looking to embrace Cryptocurrencies. In contrast with what many people have been made to believe, the crypto market downturn has not discouraged investors from investing in the crypto market.
Most businesses, including Mastercard, are trying to keep up with the trend of Web3. Mastercard submitted its application documents for an additional trademark last week Monday.
Mastercard’s upcoming operations are centered around cryptocurrencies. After focusing on cryptocurrencies, Web3 is the latest technology that Mastercard is trying to implement into its workflow.
Attorney Michael Kondoudis announced Mastercard’s new Trademark filing on Twitter. The US Patent and Trademark Office received the Mastercard application on the 22nd of November.
The filing revealed that besides providing NFT-authenticated multimedia files, Mastercard is looking to offer a virtual marketplace for other digital goods. The collection of apps developed by Mastercard will help process digital credit cards, debit cards, and prepaid cards.
It will also help to collate a database of financial data collected from the metaverse.
Mastercard’s Crypto Exploration Continues
Second, only to Visa, Mastercard is one of the world’s most reputable payment networks in the international payment industry.
As a long-standing banking institution, Mastercard will bring a lot of excellent additions to the crypto industry. It is worth noting that the financial giant has developed a business relationship with several Web3 platforms and virtual asset marketplaces.
For instance, Mastercard users can now buy NFTs with their cards following a collaboration with Coinbase. Also, Mastercard is in partnership with CoinJar, one of the UK’s longest-existing Crypto exchange companies.
In addition, the card payment giant has a cordial business relationship with Thailand-based Crypto exchange giant – Bitkub and Australia’s digital asset company – The Amber group.
Financial giants like Mastercard’s investment in the crypto sector has made it evident that cryptocurrencies are not fading off anytime soon despite the erroneous belief of many economic experts.