Mastercard Joins Marco Polo Network


One of the world’s largest finance giant is joining blockchain software company R3 via its Marco Polo Network for Trade finance.

Mastercard purportedly participated in a project in collaboration with R3 and Irish tech company TradeIX, with the main aim of developing a multi-asset platform that offers, among other things, broker-dealer services and multicurrency transactions.

The card company’s Mastercard Track platform was designed for business-to-business global trade and has been collaborating with Marco Polo to facilitate further development as well as more working capital finance solutions.

According to the transaction baking head of Europe at BP Paribas- one of Marcopolo Network members, Jacques Levet, the better flow of information across the whole value chain has the potential to benefit all network members.

R3 has been busy onboarding new members into its network such as Standard Bank, Africa’s largest bank by total assets, which will be joining BNP Paribas and ING into the fold.


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