Blockchain This Week: Mastercard Partners With R3 To Develop Cross-Border Payments And More

Signzy partners with blockchain startup Primechain Technologies to co-develop smart banking solutions London-based Blockchain is in talks with its existing and new investors to raise $50 Mn Europe’s digital asset investment company KR1 announces investments in 3 blockchain startups Be it voting, land registration, education, healthcare records and other public services, blockchain is the best fit and proven technology for egovernance services. The global blockchain government market is expected to grow at a CAGR […]

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#Mastercard partnered with #blockchain firm #R3 to develop a cross-border payment solution. According to a Mastercard press release published on Sept. 1, the two firms plan to pilot a new blockchain-enabled cross-border payment solution. The system will reportedly focus on connecting global faster payments infrastructures, schemes and banks. Per the release, the announcement is part of Mastercard’s plans to strengthen its cross border payments network, building on its acquisition of global payments company Transfast earlier this year. The partnership with R3 is part of the payment giant’s multi-rail strategy, which sees customers choosing how their funds should be moved. Mastercard executive vice president of new payment platforms #PeterKlein commented on the development: “Developing a new and better cross-border #B2B payments solution by improving worldwide connectivity in the account-to-account space is central to Mastercard’s ambition. Our goal is to deliver global payment infrastructure choice and connectivity as demonstrated through our recent strategic #acquisitions and #partnerships, including our relationship with R3.” Mastercard’s interest in blockchain The partnership builds on the previous relations between the two companies, which publicly manifested also earlier this month when Mastercard joined R3’s Corda-powered #MarcoPoloNetwork for #trade #finance. Mastercard also showed interest in the #cryptocurrency space in August, when the company appeared to be angling to enter the #cryptowallet space with new job ads for blockchain and cryptocurrency-related product development. @cointelegraph @blockchain #blockchainsystems #blockchaintechnology #blockchaineducation #blockchainnetwork #BlockchainExperts

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