Mastercard is building a blockchain-based Multi-Token Network aimed at linking traditional financial institutions with the digital asset world, according to Business Insider.
The project is being led by Raj Dhamodharan, Mastercard’s executive vice president of blockchain and digital assets. The goal is to create a seamless, compliant, and easy-to-use platform for transferring digital assets—something as user-friendly as Venmo or Zelle, but for crypto.
With this initiative, Mastercard is positioning itself as a major infrastructure player in the evolving blockchain space. By merging its global payment network with blockchain tech, the company aims to simplify interactions between fiat currencies and digital assets.
Dhamodharan noted that financial institutions are showing growing interest in blockchain because of its potential to unlock entirely new business models.
Mastercard’s Growing Web of Partnerships
The Multi-Token Network has already secured partnerships with major players like JPMorgan and Standard Chartered, focusing on use cases such as cross-border payments, tokenized deposits, and even carbon credit transactions.
Mastercard has also launched more than 100 crypto-focused card programs globally, enabling its 3.5 billion cardholders to engage with digital assets in a variety of ways.
Since stepping into the blockchain space in 2015, Mastercard has filed over 250 blockchain-related patents and invested in 43 startups. Some of its latest moves include a November 2024 integration with JPMorgan to enhance cross-border settlement and a February 2025 partnership with Ondo Finance to bring institutional-grade financial assets onto the blockchain.
A Timely Push Amid Regulatory Clarity
Mastercard’s deeper push into blockchain comes as U.S. regulators begin offering more guidance around digital assets. This regulatory clarity is opening the door for more traditional financial institutions to enter the crypto space.
Dhamodharan believes Mastercard is in a strong position to take advantage of this shift—leveraging its global reach and technological infrastructure to drive broader adoption of blockchain technology.
