Yesterday Mastercard announced plans to launch a beta version of the Mastercard Multi-Token Network (MTN), a blockchain network that will initially support bank deposit tokens in the UK. The card company has already tested deposit token settlement using its existing network infrastructure.
It believes it has the necessary expertise after participating in central bank digital currency (CBDC) projects such as in Australia, and launching a blockchain digital identity solution, the Mastercard Crypto Credential.
Mastercard is a participant in one of the major initiatives that plans to enable settlement for deposit tokens, the Regulated Liability Network. In a blog post, Mastercard’s Raj Dhamodharan said the MTN is complementary.
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