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

Mastercard’s Multi-Token Network has integrated with JP Morgan’s Kinexys Digital Payments to improve the efficiency of business-to-business cross-border transactions.

According to Mastercard’s press release, this collaboration increases the speed and transparency of global commercial payments by allowing joint customers to use a single application programming interface for seamless payments.

The integration combines Mastercard’s blockchain-powered MTN platform with JP Morgan’s Kinexys, a payment system designed for real-time, multi-currency transactions.

Kinexys uses blockchain technology to facilitate direct, near-instant transfers between business bank accounts.

This partnership addresses key challenges in cross-border payments, such as delays, time zone differences and limited transparency that have long hindered global trade.

Mastercard’s token network

Mastercard’s MTN provides businesses with the tools to develop innovative financial solutions. By connecting with Kinexys, companies can automate payment processes, optimize liquidity and reduce operational costs.

For companies that frequently make international transactions, the ability to make payments 24/7, even during bank holidays, provides a significant advantage.

Executives highlighted the startup’s potential to transform digital commerce. Kinexys Co-President Naveen Mallela described the partnership as a step towards integrating traditional bank payment channels with digital markets.

This partnership reflects a broader trend of financial institutions embracing blockchain technology to modernize their payment systems, providing businesses with faster and more cost-effective solutions.