Mastercard Unveils Multi Token Network (MTN) to Scale, Secure Blockchain Tech

Mastercard (NYSE: MA) announced the launch of the Multi Token Network (MTN), a set of core capabilities designed to make transactions within the blockchain and digital asset ecosystems secure, scalable and interoperable – enabling payment applications and trade more efficiently.

A new solution for the industry, the MTN that Mastercard is starting “to test was designed under four pillars of trust” and seeks to meet the four main needs of the industry:

  • Counterparty Trust: Effective identity management and permissions are essential to building trusted networks. The Mastercard Crypto Credential , announced in April, will be leveraged across all MTN interactions to provide a common set of standards and verification infrastructure, enabling trusted interactions between consumers and businesses using blockchain networks. Several partners are already working with us on an initial project to enable transfers on public chains, and our recent work on theAustralian CBDC uses the same technology to secure CBDC transactions.
  • Trust in the Digital Payment Asset: Stable, regulated and scalable payment tokens are essential to power payment applications. Last year, we tested the use of tokenized commercial bank deposits between various financial institutions, settling through our existing network. We also joined a group of market participants to explore a tokenized deposit platform through a concept called the Regulated Liability Network . MTN will support and complement these efforts by enabling regulated payment tokens to power financial applications.
  • Trust in technology: The scalability of blockchain networks and the interoperability between them are critical technologies needed for secure transfers of tokens and assets. Our work with the Reserve Bank of Australia (RBA), partnering with Cuscal Payments and Mintable on their CBDC pilot demonstrates how CBDCs issued by the RBA can be used to make seamless purchases of assets from entities listed on the public blockchain. MTN seeks to offer these features across all supported tokens and payment networks in a scalable manner.
  • Confidence in Consumer Protection: MTN will build on our years of experience in developing standards and rules for our card network to provide a common framework for a community of users with shared interests. This includes clear rules that prioritize strong consumer protections, stability and regulatory compliance.

MTN represents “one of Mastercard’s most ambitious projects in the digital asset space to date,” said Raj Dhamodharan, Executive Vice President, Blockchain and Digital Assets.

He added:

“It’s a natural evolution that demonstrates their commitment to “offering a broader range of secure, easy-to-access, always-on payment solutions.”

Their aim is to support “the digital asset industry and stakeholders to help build confidence in its future.”

Starting next quarter, the beta version of MTN will be “available in the UK and will act as a testbed for developing live pilot applications and use cases with financial institutions, fintechs and central banks.”

The first phase of the apps will be “powered by tokenized bank deposits.”

Over time, Mastercard plans “to make MTN available in additional markets around the world.”


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