Mastercard Develops Blockchain Network to Integrate Traditional Finance
Date: 2025-04-02 Author: Henry Casey Categories: BUSINESS
The initiative, led by Raj Dhamodharan, Mastercard’s executive vice president of blockchain and digital assets, aims to create a convenient and compliant infrastructure for the transfer of digital assets. The company intends to offer an interface similar to popular platforms Venmo or Zelle, which will provide users with a comfortable transaction experience.
Mastercard aims to become a leading infrastructure provider in the growing blockchain space. By combining its extensive payment network with blockchain technology, the company aims to simplify transactions between traditional financial systems and the cryptocurrency market.
According to Dhamodharan, financial institutions are actively exploring the potential of blockchain to create new business models and improve existing processes.
Mastercard Partnerships and Achievements
Mastercard has already established partnerships with JPMorgan and Standard Chartered, focusing on cross-border payments, tokenized deposits, and carbon credit transactions. In addition, the company has launched over 100 cryptocurrency card programs worldwide, allowing 3.5 billion cardholders to interact with digital assets.
Since starting its work on blockchain in 2015, Mastercard has filed over 250 blockchain-related patents and supported 43 blockchain startups. Among the company’s most recent projects are the integration with JPMorgan in November 2024, which was aimed at streamlining cross-border payments, and the collaboration with Ondo Finance in February 2025 to move institutional financial assets onto the blockchain.
The expansion of Mastercard’s blockchain network comes as US regulators gradually bring more clarity to the regulation of digital assets. This is driving traditional financial companies to increasingly consider integrating cryptocurrencies.
Dhamodharan believes that Mastercard is well-positioned to capitalize on the growing interest in blockchain technology and accelerate its adoption thanks to its global scale and extensive payments infrastructure.
