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Mastercard’s Multi-Token Network (MTN) has established a connection with Kinexys Digital Payments, a blockchain-based digital payments system from JPMorgan Bank, serving as a settlement solution for cross-border B2B transactions.
Mastercard and JPMorgan have collaborated to enhance the effectiveness of cross-border B2B payments. This partnership allows shared MTN and Kinexys clients to perform B2B transactions through a unified API integration, thereby removing the challenges posed by varying time zones between parties and improving the transparency and speed of settlements.
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Kinexys Digital Payments represents a next-generation payment system that facilitates real-time transfers using commercial bank funds. It is one of the offerings from JPMorgan’s Kinexys blockchain platform.
Mastercard’s Multi-Token Network serves as a platform for asset tokenization and secure digital payment transactions. MTN consolidates a variety of API tools and blockchain standards into a single platform for innovative business models.
Naveen Mallela, Co-Head of Kinexys at J.P. Morgan, stated in the press release that this collaboration could significantly impact the digital global commerce landscape by enhancing the accessibility of commercial banking payment systems that can seamlessly integrate with any digital marketplace or platform.
In late November 2023, major financial entities JPMorgan and Apollo Global Management introduced a corporate DLT network, which was already handling transactions exceeding $2 billion daily at that time. Meanwhile, Mastercard had launched its Multi-Token Network platform a few months prior.
Сообщение Mastercard and JPMorgan Team Up to Improve Cross-Border B2B Payments появились сначала на CoinsPaid Media.
