JP Morgan and Mastercard team up to bring foreign exchange on blockchain

CoinMarketCap11-21 23:49

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 ...

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Now it is working alongside JP Morgan’s JPM coin recently rebranded as Kinexys Digital Payments.\nCustomers of both services will be able to make B2B transactions with a single API.\nThe 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.”\nThe 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.\nWhen 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.\nLand a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Company Corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485416026"}