Mastercard’s Multi-Token Network (MTN) is integrated with JPMorgan’s Kinexys Digital Payments to connect blockchain-based tools with real-time payment rails.
The platform, offered through JPMorgan’s blockchain business unit, facilitates real-time transfers using commercial bank funds.
The partnership aims to streamline cross-border commerce by providing faster and more transparent payment processes, reducing friction and increasing commerce efficiency.
A single API integration will enable businesses using both MTN and Kinexys to settle transactions more efficiently, reducing delays associated with time zone differences.
This partnership combines Mastercard’s expertise in blockchain-based solutions with JPMorgan’s focus on secure and efficient payment rails.
This integration is expected to create new use cases and contribute to the continued transformation of the digital commerce ecosystem.
Naveen Marella, co-head of Kinexys at JPMorgan, said:
“At Kinexys, we believe that our solutions can play a transformative role in the digital global commerce and digital asset ecosystem, where we build on commercial banking payment rails that can natively integrate with any digital marketplace. Availability enhances the value proposition of a commerce venue” or platform.
We look forward to supporting our clients in joining the MTN ecosystem and collaborating further with Mastercard in the digital space. ”
Raj Dhamodharan, Executive Vice President, Blockchain and Digital Assets master cardadded,
“Mastercard and JPMorgan Kinexis have long been committed to innovating for the future of digital assets and commercial infrastructure.
Combining the power and connectivity of Mastercard’s MTN with Kinexys Digital Payments delivers increased speed and payment capabilities across the value chain. ”
Featured image credit: Edited from freepic
