Outside Source
Mastercard’s Multi-Token Network has integrated with J.P. Morgan’s Kinexys Digital Payments to improve the efficiency of business-to-business cross-border transactions.
This collaboration enables mutual customers to use a single application programming interface for seamless settlement, enhancing the speed and transparency of global business payments, according to a Mastercard press release.
The integration combines Mastercard’s blockchain-powered MTN platform with Kinexys, J.P. Morgan’s payment rail designed for real-time, multicurrency transactions.
Kinexys utilizes blockchain technology to facilitate direct, near-instant transfers between commercial bank accounts.
This partnership addresses key challenges in cross-border payments, such as delays, time zone discrepancies, and limited transparency, which have long impeded global commerce.
Mastercard’s token network
Mastercard’s MTN offers businesses tools tools to develop innovative financial solutions. By connecting with Kinexys, companies can automate payment processes, optimize liquidity, and reduce operational costs.
For firms conducting frequent international transactions, the ability to settle payments 24/7 — even on banking holidays — provides a significant advantage.
Executives highlighted the initiative’s potential to transform digital commerce. Naveen Mallela, Co-Head of Kinexys, described the partnership as a move toward integrating traditional bank payment rails with digital marketplaces.
This partnership reflects a broader trend of financial institutions adopting blockchain technology to modernize payment systems, delivering faster and more cost-effective solutions for businesses.
This article first appeared at crypto.news
