Mastercard and Ondo Finance (ONDO) are teaming up in a groundbreaking partnership that will see ONDO joining Mastercard’s Multi-Token Network (MTN). This network, built on blockchain technology, connects commercial banks with digital assets, revolutionizing the way businesses conduct transactions.
In a recent press release, Mastercard expressed its confidence in the efficiency of blockchain technology for business-to-business transactions. The company believes that blockchains have the potential to streamline the often complex and time-consuming process of settling global business transactions. Unlike traditional banking systems that may take days to synchronize accounts, blockchains can process and settle transactions quickly and seamlessly, 24/7.
Ian De Bode, Chief Strategy Officer at Ondo Finance, shared his insights with Mastercard, emphasizing the transformative power of tokenizing traditional assets like gold and securities. By enabling these assets to be traded on blockchain platforms, investors can break free from the limitations of traditional finance. De Bode highlighted the ability to conduct transactions around the clock and integrate assets into smart contracts without the need for centralized intermediaries.
Furthermore, De Bode predicted a swift adoption of tokenized stocks, ETFs, and the ability to borrow against them on-chain, paving the way for a new era of decentralized finance.
At the time of writing, ONDO is trading at $0.967, marking a slight decrease of 1.8% over the past 24 hours. The partnership between Mastercard and ONDO signals a significant step towards leveraging blockchain technology for enhanced financial transactions and asset management.
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