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Mastercard Signs on Blockchain Development Firm

September 11, 2019 7:46 pm by FomoHunt

New York — According to a press release from September 1st, Mastercard and blockchain development firm R3 have struck a strategic partnership. The purpose will be to pilot a blockchain solution which will increase the speed and efficiency of cross-border payments. This partnership is another step towards adoption, as well known companies begin to adopt blockchain and decentralized ledger technologies at scale.

Mastercard’s VP of New Payment Platforms, Peter Klein commented “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.”