Mastercard working on blockchain to connect TradFi and crypto: report
Mastercard is growing a blockchain-powered Multi-Token Community to attach conventional monetary establishments with the digital asset house.
The initiative, led by Raj Dhamodharan, Mastercard’s govt vp of blockchain and digital belongings, goals to offer a compliant, user-friendly expertise for transferring digital belongings, just like Venmo or Zelle, in line with Enterprise Insider
Mastercard is positioning itself as a key infrastructure supplier within the rising blockchain ecosystem. By integrating its huge cost community with blockchain expertise, the corporate seeks to allow seamless transactions between fiat and crypto markets.
Dhamodharan highlighted that monetary establishments are more and more fascinated about blockchain resulting from its potential to create new enterprise fashions.
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Mastercard partnerships
The community has already secured partnerships with JPMorgan and Customary Chartered, specializing in cross-border funds, tokenized deposits, and carbon credit score transactions.
Mastercard has additionally launched over 100 crypto-focused card packages worldwide, permitting its 3.5 billion cardholders to work together with digital belongings.
Since 2015, Mastercard has filed over 250 blockchain-related patents and backed 43 startups within the sector. Current collaborations embrace a November 2024 integration with JPMorgan to enhance cross-border settlements and a February 2025 partnership with Ondo Finance to deliver institutional monetary belongings on-chain.
Mastercard’s blockchain growth comes as U.S. regulators present extra readability on digital belongings, encouraging conventional finance companies to have interaction with crypto. Dhamodharan believes the corporate is well-positioned to capitalize on this momentum, leveraging its scale to drive broader blockchain adoption.
