Mastercard and JPMorgan Link Up to Bring Foreign Exchange on the Blockchain
Mastercard has integrated its Multi-Token Network (MTN) with JPMorgan's Kinexys, enhancing B2B cross-border payments. This collaboration aims to provide greater transparency, faster settlements, and reduce time zone issues. The MTN, launched in mid-2023, is testing tokenized bank deposits, stablecoins, and central bank digital currencies (CBDCs). Kinexys, previously known as JPM Coin, plans to introduce tokenized U.S. dollar and euro foreign exchange by early 2025, with future expansions to other currencies. The integration allows mutual customers to settle transactions through a single API. Both companies emphasize the transformative potential of their combined solutions for digital global commerce and the efficiency of commercial bank payment rails.
