Mastercard and JP Morgan partner to advance blockchain-based payments

Mastercard has integrated its Multi-Token Network (MTN) with JP Morgan's rebranded blockchain platform, Kinexys (formerly Onyx), to improve B2B cross-border payments, according to CoinDesk. The partnership aims to enhance transparency, speed and efficiency while addressing time zone challenges. Mastercard's MTN is working with Kinexys to test tokenized bank deposits, stablecoins and CBDCs. JP Morgan plans to launch tokenized U.S. dollar and euro forex trading by early 2025, with future expansion to other currencies. The integration enables customers to settle transactions through a single API, promising transformative solutions for global digital commerce.