Mastercard is launching a ‘Multi-Token Network’ (MTN) as part of its exploration of digital assets and blockchain technology. The MTN aims to provide secure, scalable, and interoperable transactions within the digital asset and blockchain ecosystems, starting with tokenized bank deposits.
Facts
- Mastercard is introducing a ‘Multi-Token Network’ (MTN) to develop live pilots in the realm of digital assets and blockchain technology.
- The initial focus of the MTN will be on exploring tokenized bank deposits.
- The network will be built on four key pillars of trust: trust in counterparty, trust in digital payment assets, trust in technology, and trust in consumer protections.
- The beta version of MTN will be launched in the UK, where it will be utilized for pilot applications and use cases with financial institutions, fintech, and central banks.
- Following the UK pilot, the MTN will be expanded to other markets.
- The objective of the MTN is to enhance payment and commerce applications, making them more efficient within the digital asset and blockchain ecosystems.
- Mastercard’s blockchain and digital assets lead, Raj Dhamodharan, emphasizes the aim of MTN is to establish a set of foundational capabilities for secure, scalable, and interoperable transactions
