Mastercard and R3 partner to build new blockchain-based solution for overseas payments
Payments giant Mastercard has partnered with enterprise blockchain firm R3 to develop and pilot a new blockchain-based solution for cross-border payments, The Block reports. R3 will connect its open-source blockchain platform Corda with Mastercard’s ecosystem. Corda platform includes over 300 global financial services firms, technology companies, central banks, regulators and trade associations. Peter Klein, EVP of R3's New Payment Platforms, said:
“Developing a new and better cross-border B2B [business-to-business] payments solution by improving worldwide connectivity in the account-to-account space is central to Mastercard’s ambition."
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