Mastercard Multi-Token Network moving at ‘amazing pace’ as Polytrade tests RWA token integration – report

Mastercard held its first-ever blockchain innovation sprint successful London last week arsenic portion of the improvement of its Multi-Token Network (MTN.)

Among the participants was fintech startup Polytrade, which showcased however its blockchain-based level for commercialized financing could integrate with the MTN.

The web aims to alteration consumers, merchants, and banks to transact seamlessly and securely utilizing blockchain-based integer assets. Mastercard published a whitepaper for the network, which acts arsenic a benignant of ‘multi-chain layer-2′ but without immoderate statement mechanism. It is described arsenic a “network overlay” designed to optimize blockchain transactions for bequest concern systems. 

“Our extremity is for the MTN to see a radical of validated counterparties that would signifier a unafraid web overlay connected apical of existing blockchains”

As outlined successful the whitepaper, Mastercard views the MTN arsenic a mode to mitigate risks and flooded challenges that person frankincense acold constricted mainstream blockchain adoption. The web would found standards for compliance, governance, interoperability, and stableness of outgo tokens. The whitepaper defines the MTN as,

“The Mastercard Multi-Token Network (MTN), which would service arsenic an wholly caller strategy composed of a radical of validated counterparties that signifier a unafraid web overlay that sits connected apical of, and extends across, aggregate nationalist and backstage blockchains.”

Mastercard views the MTN arsenic a captious furniture successful a holistic strategy of integer networks. The diagram beneath outlines however MTN would integrate with web3 by acting arsenic a transactional furniture betwixt banks, work providers, and the colony layer.

Source: Mastercard

Polytrade showcases the powerfulness of MTN.

Polytrade is processing a decentralized protocol to alteration tiny and mean enterprises to entree backing for cross-border commercialized transactions. It facilitates lending and concern from a planetary excavation of superior providers by tokenizing invoices and different trade-related assets. The process fundamentally decentralizes invoice financing, whereby companies tin entree funds astatine a clip erstwhile they would different beryllium illiquid.

According to Piyush Gupta (PG), co-founder of Polytrade, the startup sees beardown imaginable synergies with Mastercard’s MTN vision. PG said,

“We are ace bullish fixed the astonishing gait of the Mastercard Multi-Token Network and the Mastercard team.

Thank you Mastercard for giving america this accidental to enactment connected a usage lawsuit leveraging the Mastercard Multi-Token Network.”

By bringing unneurotic accepted fiscal institutions and crypto-native companies, Mastercard looks to make a web that unlocks the imaginable of blockchain and integer assets for mainstream payments and commerce.

Founder of Farmsent, YOG, commended the progress, stating, “So blessed to spot the #RWA task similar Polytrade getting each the deserved attraction and success.” RWA stands for real-world plus and is simply a burgeoning assemblage of web3 with processing and scrambling to connection the champion method of tokenizing assets from the carnal world, on-chain.

According to the whitepaper, the MTN aviator aims to code concerns astir compliance, governance, and interoperability that person frankincense acold constricted adoption.

How MTN compares to blockchain networks.

MTN is designed arsenic an overlay web that sits connected apical of existing nationalist and backstage blockchains to connection further security, compliance assurance, and interoperability among them.

MTN lacks the hallmarks of a standalone blockchain. It does not person its ain statement mechanics oregon validate transactions. Instead, transactions are settled connected underlying blockchains connected done MTN.

MTN is described arsenic a web overlay extending crossed aggregate chains alternatively than its ain blockchain. Its main intent is establishing communal rules, compliance standards, and governance procedures.

By leveraging the information and immutability of connected blockchains portion adding compliance and interoperability, MTN aims to supply a model improving the trustworthiness and flexibility of transactions crossed antithetic ecosystems.

So portion MTN connects assorted blockchains together, it does not look to relation arsenic a blockchain itself based connected the details provided successful the whitepaper. The worth proposition focuses connected web effects successful linking chains alternatively of a caller statement mechanism.

The station Mastercard Multi-Token Network moving astatine ‘amazing pace’ arsenic Polytrade tests RWA token integration – report appeared archetypal connected CryptoSlate.