Mastercard has connected its Multi-Token Network (MTN) to JPMorgan’s Kinexys Digital Payments rail, enhancing B2B cross-border payments settlement.
Unveiled last year, Mastercard’s MTN is a platform of programmable payment services built on a private blockchain. It is now linked to Kinexys Digital Payments, a payment rail that facilitates real-time value transfer using commercial bank money, part of JP Morgan’s recently rebranded blockchain business.
This integration allows mutual customers of Mastercard and JPMorgan to settle B2B transactions through a single API integration. Raj Dhamodharan, EVP of blockchain and digital assets at Mastercard, stated, “By bringing together the power and connectivity of Mastercard’s MTN with Kinexys Digital Payments, we are unlocking greater speed and settlement capabilities for the entire value chain.”