News Mastercard Teams Up With Stellar And Starts Building On...

Mastercard Teams Up With Stellar And Starts Building On The Blockchain


- Advertisment -

Traditional finance seems to be penetrating the crypto space.

After Visa and JP Morgan, Mastercard is now starting to build on the blockchain after teaming up with Stellar. works with Mastercard Limited revealed that they had been chosen by Mastercard – which processes 3.4bn transaction every day –  to develop an “open banking hub” according to Cryptobriefing.

An official press release says that will develop Mastercard’s connectivity layer, helping to connect merchants and retailers to financial services.

This latest move is a part of Mastercard’s efforts for a pan-European directory, enhancing connectivity between financial institutions and third-party providers.

Mastercard will also offer a dedicated dispute resolution mechanism, and it will boast legal and regulatory compliance.

This is quite a big move for Token which is a San Francisco-based startup that has the primary goal of making it  “as easy to send money globally as it is to send an email or text message,” according to its website.

Cryptobriefing notes that to do that, “they provide a financial API, TokenOS, as well as a dollar-backed stablecoin on the Stellar (XLM) blockchain, Token X.”

“Fragmentation and a lack of consistency in third party access are creating complexity in open banking,” said CEO, Steve Kirsch.

He continued and explained: “So we welcome the chance to work with Mastercard and leverage Token’s open API platform, to address these issues at scale and together accelerate the global adoption of open banking.”

Mastercard Teams Up With Stellar And Starts Building On The Blockchain

It’s not clear whether Mastercard will use crypto

This partnership with Mastercard will allow the company to support and use the blockchain tech, but there are no words whether they also plan to use digital assets.

This is not Mastercard’s first look into the blockchain tech.

Back in 2018 towards the end of the year, they placed a $298 million bid on Ripple’s partner Earthport in order to expand its offering in cross-border remittances.



Please enter your comment!
Please enter your name here

Latest news

What’s the future of decentralized blockchains?

When Bitcoin was new and not valued at anything or just a few cents anyone could join...

My 5 favorite free crypto tools & sites I use daily

So I often get asked by friends, or people visiting my site about new tips for exciting...

Cryptocurrency is The Last Kingdom Where You Can Keep Your Data Private

Data privacy has been a hot topic for quite some time now and particularly after the popularity...

How To Travel With Bitcoin: 9 Travel Companies Accepting Bitcoin

Bitcoin travel is a reality, as several travel companies now accept payments in cryptocurrencies for their services.
- Advertisement -Mastercard Teams Up With Stellar And Starts Building On The Blockchain

Top 5 Ways To Build a Profitable Business in The Crypto Sector

The crypto industry has grown significantly despite criticism and a skeptical approach from regulators across the globe....

These 8 Cryptocurrencies Will Survive the Next Decade

Cryptocurrency is the future, we all have reasons to believe it. But are people ready...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you