Making special agreements with many exchanges and crypto companies and issuing cards, especially during the 2021 bull season, Mastercard continues its progress in the crypto field. According to Mike Kondoudis, a lawyer specializing in patents for companies, Mastercard has filed trademark applications for a software it has developed on crypto and blockchain. With this software, the company wants to create a system where VASPs can easily transact with each other.
It is stated that Mastercard, which aims to seamlessly connect VASPs, also known as virtual asset service providers, to each other and thus to perform crypto money transactions without any problems, has developed an API software that is easy to install on devices. Thanks to the software, communications in the blockchain networks will be verified during cryptocurrency transactions, thus ensuring that crypto transactions between VASPs are also seamless.
It is stated that the application was filed on June 12 and forwarded to the US Patent and Trademark Office. Mastercard was particularly popular with the crypto payment cards it launched in partnership with Gemini exchange and fintech company Uphold. Visa, Mastercard’s biggest competitor, also issued similar cards with some companies.