Mastercard's integration of MTN with JPMorgan's Kinexys Digital Payments will allow mutual customers to settle B2B transactions via a single API, improving transparency and speed.
The collaboration seeks to provide greater transparency, faster settlement, and reduced time zone friction in B2B cross border payments, enhancing the overall payment experience.
The emerging trend of tokenized foreign exchange, part of blockchain applications in traditional finance, offers a near-real-time method to address cross-border transaction challenges.
JPMorgan's rebranding of its digital assets business to Kinexys comes with a commitment to introduce tokenized foreign exchange options for USD and Euro by early 2025.
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