Mastercard And Major US Banks Collab To Test Tokenized Asset Settlement

Mastercard’s disruptive collab with leading US banks to trial shared ledger technology for settling tokenized assets aims to simulate transactions in dollars improving cross-border transaction efficiency and reducing the risk of error and fraud. The assets include commercial-bank money, Treasury securities, and investment-grade debt securities. The ledger technology will recast the financial landscape. Notable participants in the trial include Citigroup Inc., JPMorgan Chase & Co., Visa Inc., and Swift.