Mastercard's collaboration with J.P. Morgan brings B2B cross-border payments onto the Blockchain

2024-11-21 14:04:24

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Odaily Planet Daily News According to reports, payment giant Mastercard (MA) has integrated its blockchain-based tokenization system, Multi-Token Network (MTN), with Kinexys, JPMorgan’s recently renamed digital asset business (formerly known as Onyx). This collaboration aims to strengthen B2B cross-border payments, providing greater transparency and faster settlement speed, while reducing time zone friction. Tokenizationforex is an attractive subset of real-world asset trends based on blockchain, which has been firmly embraced by TradFi as it provides an almost real-time, always-on way to avoid cross-border disparities and pain points. In a joint statement, the two companies said that by integrating the connection of Mastercard MTN with Kinexys digital payments, the common customers of MTN and Kinexys will be able to conduct B2B transactions through a single API Settlement. (Coindesk)

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