BCGAME - Free 5BTC Daily Bonus!- Mastercard and JPMorgan have announced a strategic partnership.
- The partnership aims to enhance international B2B payments.
- The systems aim to improve the efficiency of commercial transactions.
In a significant development in the financial sector, Mastercard (MA) announced on November 21 that it has connected its blockchain-based system for transferring tokenized assets, dubbed the Multi-Token Network (MTN), with JPMorgan’s (JPM) digital asset business Kinexys. The strategic partnership between the two financial giants aims to enhance cross-border B2B payments.
“Mastercard’s Multi-Token Network (MTN) has connected with Kinexys Digital Payments as a payment settlement solution to increase the availability of B2B cross-border payments for merchant applications on MTN.”
The official statement highlighted that the two systems are providing solutions designed to improve the efficiency of commercial transactions. These solutions aim to improve cross-border payment experiences by providing greater transparency and faster settlement, as well as reducing time zone friction. With the integration, customers will be able to settle B2B transactions through a single API integration.
Raj Dhamodharan, Executive Vice President, Blockchain and Digital Assets, Mastercard, commented on the significance of the partnership: “For years, both Mastercard and Kinexys by JP Morgan have been committed to innovating for the future of digital assets and commerce infrastructure. By bringing together the power and connectivity of Mastercard’s MTN with Kinexys Digital Payments, we are unlocking greater speed and settlement capabilities across the entire value chain. We are excited about this integration and the new use cases it will bring to life, leveraging the strengths and innovations of both organizations.”
Kinexys Digital Payments is a payment platform that enables real-time value transfers using commercial bank money, offered by JP Morgan’s Kinexys, the company’s blockchain business unit. Mastercard’s MTN brings together a suite of blockchain-based, API-enabled tools and standards for innovative business models on a single platform.
