MasterCard launches testing of deposits in cryptocurrency

MasterCard payment system is going to start testing the Multi-Token Network. In this solution, it will work with bank deposits that are based on tokens.

What is known about testing

Multi-Token Network will be available in beta version. The launch will begin this summer in the UK. Banking institutions and financial organizations will participate.

The testing project will include teams that will have access to multi-token tools. They will develop the best ways to apply deposits with digital coins.

Raj Damodaran, who heads the digital assets and blockchain division, believes that this solution may include stable tokens and national electronic currencies in the future.

He also added that now the global economy is driven by controlled funds in banking institutions. At the same time, the company is going to launch deposits with tokens. Thanks to this, the monetary unit on it will be a crypto asset in the blockchain network, providing similar programmability capabilities as cryptocurrencies in their ecosystem.

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