Mastercard proposes creating a bank of cryptocurrencies

The giant of the credit cards would have requested a patent before the entity in charge in the United States to develop the project

It is presumed that the giant of credit cards and financial services Mastercard, is preparing for the creation of a bank dedicated to the world of cryptocurrencies.

The company would have made a request to the United States Patent Office, where they required permits for the management of a fractional reserve of blockchain assets.

“There is a need to improve the storage and processing of transactions using block chain coins. Existing payment networks and payment processing systems that use fiat currency are specially designed and configured to securely store and protect the currency information and the credentials of consumers and merchants, and to transmit confidential data between computer systems”, Mastercard said in a statement.

The patent consists of a system that will simultaneously track the cryptographic assets and the fiduciary assets, that is, it would be a mobile wallet mixed with cryptocurrency accounts and fiat money.

For now, the company must wait for the final approval of the Patent Office, which usually takes to issue its final decision.

K. Tovar

Source: CCN

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