Mastercard’s MTN (Multi Token Network) is collaborating with JP Morgan’s Kinexys aka Onyx for the B2B transfer of tokenized assets across borders.

In the press release published on Thursday, November 21st, it was shared that the companies are joining hands in order to bring improvements in the B2B cross-border payments by “providing greater transparency and faster settlement as well as reducing time zone friction.”

In 2023, Mastercard launched MTN with plans to check out tokenized bank deposits, the application of stablecoins, and CBDC (Central Bank Digital Currencies). Now it is working alongside JP Morgan’s JPM coin recently rebranded as Kinexys Digital Payments.

Customers of both services will be able to make B2B transactions with a single API.

The executive vice president of Blockchain and Digital Assets at Mastercard stated that  “the power and connectivity of Mastercard’s MTN with Kinexys Digital Payments” will allow “greater speed and settlement capabilities for the entire value chain.”

The tokenized foreign exchange which is based on blockchain’s way of currency exchanges has become an attraction as traditional finance looks to adopt blockchain technology for real-world assets. This is because FX provides instant, close to real-time, transfer across borders as compared to the traditional methods.

When JP Morgan rebranded its Coin, it also promised to bring in tokenized US dollar and euro FX at the beginning of 2025. It also plans on moving to other currencies as well. The bank is also a participant in Project Guardian, which is a project of the Monetary Authority of Singapore.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed