Although digital currency adoption has slowed due to cryptocurrency company bankruptcies and increased regulation, Mastercard remains dedicated to the sector.
According to Michael Condoudis, a trademark lawyer, the payment system has filed a trademark application related to cryptocurrency and blockchain transaction software plus an interface between virtual asset service providers for cryptotransactions.
This is not the first step taken by Mastercard in this area. In early March, Bybit (a prominent cryptocurrency exchange) launched a Mastercard-backed debit card that allowed customers to make both cryptocurrency and fiat purchases without the problems and limitations of using cryptocurrency ATMs.
In April, Mastercard announced that it was expanding its digital currency debit card programme by partnering with a number of cryptocurrency companies. These include leading crypto exchanges Binance, Gemini and Nexo.
In addition, Mastercard filed fifteen trademark applications in April 2022 with the "Circles" logo and "Priceless" tagline, which include plans for media supported by non-exchangeable tokens (NFTs), payment transactions and e-commerce in the metaverse.
