Mastercard to team up with a Stellar-based technology company

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  • Mastercard is looking to venture into the blockchain space by joining hands with Token.io, a Stellar-based fintech startup.
  • Token is based out of San Francisco, and their main aim is to “make it as easy to send money globally as it is to send an email or text message.”

Mastercard is starting to build on the blockchain, after joining hands with Stellar-based technology company, Token.io. Token is a Stellar-based startup from San Francisco whose main aim is to “make it as easy to send money globally as it is to send an email or text message.”

Regarding the partnership, Jim Wadsworth, Senior Vice President and leading the development of Mastercard’s Open Banking offering, said:

“Open banking has the potential to revolutionize how we all interact with financial services. Our API-led solutions will make it easier for financial institutions and third parties to act on the opportunities and create innovative banking and payments experiences for people’s everyday lives. Token’s work in this space will help us to deliver the vision we’ve set.”

Steve Kirsch, Founder and CEO of Token, added:

“Fragmentation and a lack of consistency in third party access are creating complexity in open banking, so we welcome the chance to work with Mastercard and leverage Token’s open API platform, to address these issues at scale and together accelerate the global adoption of open banking.”

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