Mastercard is partnering with the Fed and the largest commercial U.S. banks, like JPMorgan and Citi, to test shared-ledger technology for settling tokenized assets. The shared-use ledger, aka the Regulated Settlement Network, solves for the inefficiency of the current system where commercial bank money, wholesale central bank money, and securities such as U.S. Treasuries and investment grade debt all reside on separate systems. The new initiative expands on a previous trial focusing on cross-border payments made in USD. Ledger technology could revolutionize financial infrastructures, enabling 24/7 programmable settlement and reducing transaction friction.
Mastercard Partners with Top US Banks for Crypto-Transactions
