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<p class="is-style-lead">Mastercard’s chief digital officer, Jorn Lambert, has stated that the payment giant’s newly launched Multi-Token Network (MTN) has all it takes to unlock the intrinsic value of blockchain technology and accelerate mainstream adoption.</p><h2 class="wp-block-heading" id="mastercard-continues-development">Mastercard continues development</h2><p>While the market capitalization of the global crypto space still stands above the $1 trillion mark despite the turbulence it has experienced over the past 12 months, Mastercard, a leading payments processor, says the actual value of blockchain technology is yet to be unlocked.</p><p>In a July 3 interview with PYMNTS, Jorn Lambert, Mastercard’s chief digital officer, argued that the revolutionary technology’s benefits may not go entirely mainstream “until there exists the ability actually to develop financially-regulated applications” powered by blockchain.&nbsp;</p><p>You might also like: <a href=" https://crypto.news/ripple-leveraged-by-montenegros-central-bank-for-cbdc-project/" rel="noopener noreferrer nofollow"> Ripple leveraged by Montenegro central bank for CBDC project </a></p><p>While many financial institutions have tapped blockchain technology for <a href="https://crypto.news/vietnam-tpbank-ripplenet-blockchain-cross-border-payments/" rel="noopener noreferrer nofollow">cross-border payments</a>, trade financing, and more, in recent times, Lambert <a href="https://www.pymnts.com/blockchain/2023/mastercard-says-value-of-blockchain-tech-in-payments-has-yet-to-be-unlocked/" rel="noopener noreferrer nofollow">believes</a> that Mastercard’s MTN solution will usher in unlimited possibilities and bring more “commercial bank money into the blockchain.</p><p>With scalability still a significant issue for most layer-1 blockchains, Mastercard <a href="https://crypto.news/mastercard-unveils-multi-token-network/" rel="noopener noreferrer nofollow">claims</a> its MTN solution is designed to shatter that barrier while fostering interoperability and security within the digital assets and blockchain ecosystems.</p><figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper"><iframe title="SBF loses bid to toss criminal charges, and Mastercard introduces token network: CNBC Crypto World" src="https://www.youtube.com/embed/xBZJT5_0zjE?feature=oembed"></iframe></div></figure><p>Just like its direct competitor, <a href="https://crypto.news/visa-and-microsoft-join-forces-for-brazilian-cbdc-pilot-project/" rel="noopener noreferrer nofollow">Visa</a>, which recently <a href="https://crypto.news/visa-announces-new-crypto-product-roadmap/" rel="noopener noreferrer nofollow">released</a> its crypto product roadmap, Mastercard has been contributing its bit to the advancement of the web3 movement.&nbsp;</p><p>As recently <a href="https://crypto.news/mastercard-boosts-engage-program-to-prioritize-crypto-integration/" rel="noopener noreferrer nofollow">reported</a> by crypto.news, Mastercard has expanded the scope of its Engage program to enable the onboarding of more crypto-focused projects. Earlier in March, the New York-based company <a href="https://crypto.news/mastercard-and-stables-introduce-first-apac-stablecoin-only-wallet/" rel="noopener noreferrer nofollow">joined forces</a> with Stables, an Australian web3 project joined forces to launch the world’s first stablecoin-only wallet.</p><p>Read more: <a href=" https://crypto.news/mastercard-submits-fresh-trademark-application-for-crypto-tech/" rel="noopener noreferrer nofollow"> Mastercard submits fresh trademark application for crypto tech </a></p>

Mastercard says its Multi-Token Network (MTN) will drive mainstream blockchain adoption

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