Mastercard files trademark for 'virtual asset payments'…Will it enter the Korean won stablecoin payment market?

Global payments company Mastercard has filed a trademark application with the Korean Intellectual Property Office that includes 'virtual currency payment processing.' Since it already operates stablecoin payment services overseas, this is interpreted as preparing to enter the Korean market in line with the spread of won-denominated stablecoins.

According to industry sources on the 14th, Mastercard recently filed the 'Priceless' trademark, which includes 'virtual currency electronic transfer', 'blockchain payment authentication services', and others. The trademark is Mastercard's global brand slogan and customer rewards platform name, and the recent filing appears aimed at expanding it into a virtual asset payment brand.

Mastercard already operates stablecoin-based payment cards overseas in cooperation with major virtual asset companies. In partnership with MetaMask, Crypto.com, OKX, and others, it allows users to load stablecoins and then pay at roughly 150 million merchant locations worldwide.

It has also built its own blockchain network, the 'Multi Token Network·MTN', which can process stablecoins, central bank digital currencies (CBDCs), deposit tokens, and the like on a single payment network. Mastercard's strategy is to use this to lead global standards for digital payment infrastructure.

Domestically, with Naver and Dunamu reviewing the possibility of cooperation in the stablecoin business, Mastercard's entry is expected to intensify competition for market leadership. Korean card issuers have also launched stablecoin task forces (TF) and are preparing countermeasures.