Krutika Adani
Payments giant Mastercard is taking a bold step into crypto-powered payments, aiming to compete with platforms like Venmo and Zelle.
Mastercard’s answer to seamless blockchain transactions is its Multi-Token Network, launched in 2023. This infrastructure enables banks and financial institutions to securely build on-chain solutions.
In November 2024, Mastercard integrated MTN with JPMorgan’s blockchain unit to streamline international transactions, significantly reducing settlement times from days to mere seconds.
Mastercard collaborates with major financial players like JPMorgan, Standard Chartered, Ethereum, and fintech firms like Ondo Finance to explore real-world blockchain applications.