Big news: Mastercard is working on a new blockchain-powered Multi-Token Network that could make it easier for traditional banks and financial players to tap into the world of crypto.
The project is being led by Raj Dhamodharan, Mastercard’s EVP of blockchain and digital assets. The goal? Build something as simple and seamless as Venmo or Zelle—but for transferring digital assets.
This move shows Mastercard’s ambition to be a serious infrastructure player in crypto. By blending blockchain tech with its massive payments network, the company hopes to make fiat-to-crypto transactions as easy as sending money to a friend.
According to Dhamodharan, more and more banks are starting to see blockchain as a way to unlock brand-new business opportunities.
Mastercard’s Web of Crypto Collaborations Is Expanding
The new network already has big names on board, including JPMorgan and Standard Chartered. They’re working together on use cases like cross-border transfers, tokenized deposits, and even blockchain-based carbon credits.
Mastercard isn’t new to the game, either. It’s rolled out 100+ crypto card programs around the world, letting its 3.5 billion users engage with digital assets in everyday life.
Since 2015, Mastercard has filed over 250 blockchain patents and invested in 43 different startups. Just recently, it teamed up with JPMorgan (November 2024) to improve cross-border payments and with Ondo Finance (February 2025) to bring institutional finance into crypto.
Mastercard’s Blockchain Bet Comes as Regulations Clear Up
This latest blockchain push couldn’t come at a better time. Regulators in the U.S. are finally offering more clarity around crypto, which is giving traditional banks the confidence to get involved.
Dhamodharan says Mastercard is perfectly placed to lead the way—thanks to its tech, global reach, and deep understanding of how payments work.
