Mastercard joins hands with JP Morgan to get foreign exchange on blockchain
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- Mastercard (NYSE:MA) said it has connected its Multi-Token Network with JP Morgan’s (NYSE:JPM) Kinexys to boost the availability of B2B cross-border payments to business applications.
- Multi-Token Network is a blockchain based system, which makes transactions within digital asset and blockchain ecosystems secure.
- Mastercard (MA) had launched the system in June last year.
- “By integrating Mastercard MTN’s connectivity with Kinexys Digital Payments, mutual customers of MTN and Kinexys will be able to settle B2B transactions through a single API integration,” Mastercard said in a press release.
- Kinexys was launched by JP Morgan and is a bank-led blockchain platform.
- “We look forward to supporting our clients engaging with the MTN ecosystem and collaborating further with Mastercard in the digital space,” said Naveen Mallela, Co-Head of Kinexys by J.P. Morgan.