{"id":30379,"date":"2024-05-09T04:47:29","date_gmt":"2024-05-09T04:47:29","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/mastercard-collaborates-with-banking-titans-for-blockchain-settlement-testing\/"},"modified":"2024-05-09T04:47:29","modified_gmt":"2024-05-09T04:47:29","slug":"mastercard-collaborates-with-banking-titans-for-blockchain-settlement-testing","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/mastercard-collaborates-with-banking-titans-for-blockchain-settlement-testing\/","title":{"rendered":"Mastercard Collaborates with Banking Titans for Blockchain Settlement Testing"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Mastercard has embarked on a groundbreaking collaboration with key banking institutions in the United States, including Citigroup, Visa, and JPMorgan, to explore the potential of distributed ledger technology (DLT) for banking settlements, leveraging tokenization.<\/p>\n

The alliance between these financial powerhouses and the payment giant is aimed at evaluating a shared-ledger technology known as Regulated Settlement Network (RSN). RSN facilitates the collective settlement of tokenized assets such as Treasurys, investment-grade debt instruments, and commercial bank funds.<\/p>\n

Streamlining Settlement Processes<\/h2>\n

Traditionally, securities and assets operate on disparate systems, leading to fragmented settlement procedures. Through RSN, various assets are converted into tokens and settled on a unified distributed ledger platform, streamlining the settlement process.<\/p>\n

Building upon a 12-week pilot phase initiated in late 2022, the ongoing proof-of-concept (PoC) RSN trials are now concentrating on simulating settlements in the United States dollar. This expansion underscores the commitment to enhancing cross-border settlements\u2019 efficiency and minimizing errors and fraud risks.<\/p>\n

Raj Dhamodharan, Mastercard\u2019s head of blockchain and digital assets, envisions shared ledger technology revolutionizing market infrastructures by enabling 24\/7 programmable settlements with minimal friction. He said, \u201capplication of shared ledger technology to dollar settlements could unlock the next generation of market infrastructures \u2014 where programmable settlements are 24\/7 and frictionless.\u201d<\/em><\/p>\n

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250% Extra + $125 Free Chip!<\/strong><\/strong> <\/p>\n

New players only. 250% on 1st Deposit + $125 Free Chip<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

The RSN PoC boasts significant participation from renowned banking institutions, interbank tokenized deposit networks like the USDF Consortium, and advisory services provided by Deloitte. Notable participants include Citi, JPMorgan, Visa, and other leading players from the banking sector.<\/p>\n

Six additional project participants, including MITRE Corporation and BNY Mellon, bring subject-matter expertise to the table, reinforcing the collaborative effort aimed at reshaping the future of financial settlements.<\/p>\n

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Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Mastercard has embarked on a groundbreaking collaboration with key banking institutions in the United States, including Citigroup, Visa, and JPMorgan, to explore the potential of distributed ledger technology (DLT) for banking settlements, leveraging tokenization. The alliance between these financial powerhouses and the payment giant is aimed […]<\/p>\n","protected":false},"author":34,"featured_media":30380,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30379"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=30379"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30379\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/30380"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=30379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=30379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=30379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}