Mastercard has increased its interest in distributed ledger technology by adding blockchain Application Programming Interfaces to its developer site.
The company is following in the steps of rival Visa which revealed its own blockchain solution in late October called Visa B2B Connect.
Mastercard said that its own moves in the blockchain market are designed to facilitate new commerce opportunities, “for the digital transfer of value by allowing businesses and financial institutions to transact on a distributed ledger.”
Last month Visa revealed that it had started working with Chain, a blockchain company, on the development of a near real-time funds transfer system for high value bank-to-bank and corporate payments.
The move from the credit card giant is a sign that it is continuing to move some of the work it had been doing internally to external teams.
Mastercard has previously been working with start-ups through its Start Path Global program, in addition to more than 30 blockchain-related patents that it has filed in recent years.
This article is from the CBROnline archive: some formatting and images may not be present.
Join Our Newsletter
Want more on technology leadership?
Sign up for Tech Monitor's weekly newsletter, Changelog, for the latest insight and analysis delivered straight to your inbox.