Mastercard has joined forces with JPMorgan to integrate its Multi-Token Network (MTN) with Kinexys Digital Payments, enhancing cross-border payments for businesses.

This collaboration aims to provide greater transparency, faster settlements, and reduce time zone friction. By using the same API, clients of both companies can efficiently settle B2B transactions, streamlining the payment process.

The partnership is a step forward in tokenized foreign exchange, which has gained traction in traditional finance, aiming to close gaps in cross-border transactions. JPMorgan's rebranding of JPM Coin to Kinexys is part of this strategy, promising to roll out tokenized FX by early 2025.