Mastercard (MA) has connected its blockchain-based system for shifting tokenized assets, the Multi-Token Network (MTN), with JPMorgan’s (JPM) recently rebranded digital assets business Kinexys (formerly known as Onyx). The collaboration is to enhance B2B cross-border payments, the companies said in a press release on Thursday, “providing greater transparency and faster settlement as well as reducing time zone friction.” The payments giant said it has invited a number of banks onto its MTN when the platform emerged in mid-2023 with a view to testing out tokenized bank deposits, the use of stablecoins and central bank digital currencies (CBDC).
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