Mastercard and JPMorgan have partnered to link their digital payment networks: Mastercard’s Multi-Token Network (MTN) with JPMorgan’s Kinexys Digital Payments platform. The collaboration aims to streamline cross-border business-to-business (B2B) payments, offering enhanced transparency and faster settlement times.
The integration of these platforms will allow mutual customers to process B2B transactions through a single API, simplifying the current cross-border payment process. The new arrangement is expected to provide faster settlement and reduce time zone friction. JPMorgan rebranded its Onyx blockchain platform to Kinexys as part of its increased focus on real-world asset tokenization.
Naveen Mallela, co-head of Kinexys by J.P. Morgan, emphasized the potential of their solutions in digital global commerce. Mastercard’s executive leadership supports the collaboration, with Raj Dhamodharan, executive vice president of Blockchain and Digital Assets, stating that the combination of their networks unlocks greater speed and settlement capabilities for the entire value chain.
In Q1 2025, Kinexys plans to introduce on-chain foreign exchange capabilities to the platform, enabling 24/7, near real-time multicurrency clearing and settlement. The partnership builds on JPMorgan’s involvement in blockchain initiatives such as Singapore’s Project Guardian, which explores the use of digital asset technology in traditional finance.
This collaboration represents a practical implementation of blockchain technology in mainstream financial services, with a focus on real-world applications. The integration process has started, with both companies working on ensuring smooth technical implementation. The unified platform will serve businesses of various sizes and includes robust security measures to protect customer data and ensure transaction integrity across the combined network.
Technical standards have been established to ensure compatibility between the respective systems while maintaining the highest levels of security and reliability. Customer onboarding processes have been streamlined for easy adoption of the new integrated service, with both Mastercard and JPMorgan providing technical support for clients to transition to the unified platform.
The partnership announcement comes as traditional financial institutions increasingly embrace blockchain technology to improve service offerings and operational efficiency.
