MasterCard is developing a blockchain-powered multi-token network to connect traditional financial institutions to the digital asset space.
According to Business Insider, the initiative led by MasterCard’s executive vice president of blockchain and digital assets, Raj Dhamodharan, is aiming to provide a submissive and user-friendly experience for moving digital assets, just like Venmo and Zelle.
MasterCard has established itself as a leading infrastructure provider in the growing blockchain ecosystem. By integrating the vast payment network with blockchain technology, the company is trying to enable seamless transactions between the FIAT and crypto markets.
Dhamodharan emphasized that financial institutions are increasingly interested in blockchain as they could create new business models.
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MasterCard Partnership
The network has already secured a partnership with JPMorgan, standard chartered and focused on cross-border payments, tokenized deposits and carbon margin trading.
MasterCard also implements over 100 crypto-centric card programs around the world, enabling 3.5 billion cardholders to interact with their digital assets.
Since 2015, MasterCard has filed over 250 blockchain-related patents and has supported 43 startups in the sector. Recent collaborations include a November 2024 integration with JPMorgan, improving cross-border settlements and a partnership with ONDO Finance in February 2025, providing chain supply of institutional financial assets.
MasterCard’s blockchain expansion is to encourage US regulators to make digital assets more clear and to encourage traditional financial companies to engage in crypto. Dhamodharan believes the company is well positioned to capitalize on this momentum and will use its size to drive wider blockchain adoption.
