Mastercard’s MTN connects to J.P. Morgan’s Kinexys Digital Payments for settlement

Mastercard’s Multi-Token Network (MTN) has connected to Kinexys Digital Payments as a payment settlement solution to enhance the availability of B2B cross-border payments to business applications on MTN.

Kinexys Digital Payments is a next-generation payment rail powering real-time value transfer using commercial bank money, offered through Kinexys by J.P. Morgan, the firm’s blockchain business unit.

Mastercard’s MTN brings together a set of API-enabled, blockchain-based tools and standards for innovative business models under one platform.

Kinexys by J.P. Morgan and Mastercard are respectively providing solutions designed to improve the efficiency of commercial transactions. These solutions aim to improve the cross-border payment experiences common for such transactions by providing greater transparency and faster settlement as well as reducing time zone friction.

By integrating Mastercard MTN's connectivity with Kinexys Digital Payments, mutual customers of MTN and Kinexys will be able to settle B2B transactions through a single API integration.

Naveen Mallela, co-head of Kinexys by J.P. Morgan, said, “At Kinexys, we believe our solutions can play a transformative role in the ecosystem for digital global commerce and digital assets, where the value proposition of commercial transaction venues is enhanced by the availability of commercial bank payment rails that can natively integrate with any digital marketplace or platform. We look forward to supporting our clients engaging with the MTN ecosystem and collaborating further with Mastercard in the digital space.”

Raj Dhamodharan, executive vice president, Blockchain and Digital Assets at Mastercard, added, “For years, both Mastercard and Kinexys by J.P. Morgan have been committed to innovating for the future of digital asset and commercial infrastructure. By bringing together the power and connectivity of Mastercard’s MTN with Kinexys Digital Payments, we are unlocking greater speed and settlement capabilities for the entire value chain. We are excited about this integration and the new use cases it will bring to life, leveraging the strengths and innovations of both organizations.”