VeChain, a prominent player in the global payments industry, has recently made significant strides in solidifying its position. Despite the current volatility in price, VeChain’s applications in finance, supply chain, and healthcare indicate potential for long-term growth.
With the global payments industry projected to surpass $20 trillion by 2026, VeChain is actively pursuing a share of this lucrative market. In pursuit of its goals, the VeChain Foundation has unveiled the V3TR trademark after filing a patent application with the US Patents and Trademark Office (USPTO). This trademark, if approved, will cover the electronic transfer of digital currency through electronic devices and communication networks.
In addition to the V3TR trademark, VeChain has also introduced the VOT3 and B3TR trademarks, which are currently awaiting review. The VOT3 trademark aims to enhance the efficiency of electronic transfers and digital currency exchanges, while the B3TR trademark expands VeChain’s financial services to include cryptocurrency tokens.
Furthermore, VeChain has secured a US patent that combines Internet of Things (IoT) devices with blockchain technology, improving the accuracy and security of transportation data documentation.
Beyond its focus on finance, VeChain is also committed to serving other sectors such as supply chain and healthcare. This is evident through the strategic partnerships it has formed, including collaborations with Kuehne & Nagel, PwC, and the Renault Group.
The global financial payments market is experiencing steady growth at a rate of 24%, attributed to the increasing demand for fast and real-time fund transfers, the rise of digital banking services, and strong economic growth in emerging markets.
Currently, VeChain (VET) is trading at $0.0302 with a 24-hour volume of $48.69 million. It has shown a slight gain of 1.90% in the past day. With a circulating supply of 72.71 billion VET and a maximum supply of 86.71 billion, VET ranks 44th by market cap.
While the market climate may be uncertain, VET’s focus on supply chain management could fuel future growth.
In conclusion, VeChain’s recent trademark filings and partnerships position it as a key player in the global payments industry. Its diverse applications and strategic collaborations pave the way for long-term success and growth.
