Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Mastercard’s Latest Crypto Credential Trademark Filing
Finbold |
Mastercard's recent trademark filing indicates a continued and growing interest in the cryptocurrency and blockchain space.
- Mastercard's Continued Interest in Crypto:
- The payment processor plans to develop software that simplifies transactions involving cryptocurrencies and blockchain, aiming to streamline crypto transactions and foster seamless connectivity between Virtual Asset Service Providers (VASPs).
- This move suggests a significant development, as it implies that Mastercard is moving towards making crypto payments more user-friendly, potentially onboarding millions to crypto, and signifies a potential disruptor in the market.
- Building a Bridge: Mastercard's move is seen as an attempt to establish a connection between conventional financial systems and the realm of digital currencies, offering improved accessibility and convenience to individuals and businesses involved in crypto transactions.
- This endeavor, marked by its collaboration with different crypto firms and its investment in crypto tools, signals a significant step towards blending traditional finance with digital currencies.
- This integration could potentially reshape how transactions are conducted and could push more financial institutions to adopt similar strategies.
See: Wave 5: 6 Startups Join Mastercard’s Digital Asset Startup Program
- Could have profound implications for fintechs, incumbents, and consumers:
- For fintechs, it marks an increased involvement of a major player in the crypto space, which could lead to increased competition but also potential partnership opportunities.
- For incumbents, it poses a challenge to keep up with or match this development, especially since other payment giants like Visa have also shown interest in the crypto market.
- For consumers, Mastercard's development could simplify the process of crypto transactions, which has been a significant barrier to broader adoption, potentially leading to wider use of cryptocurrencies.
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Keywords: Mastercard, cryptocurrency, blockchain, trademark filing, crypto transactions, digital currencies, financial institutions, Virtual Asset Service Providers, VASPs, crypto payments
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