Mastercard and J.P. Morgan team up for better blockchain payments

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.