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Ondo Finance announced today that it will be the first provider to bring real-world assets (RWA) to the Mastercard Multi-Token Network (MTN), a digital network connecting financial institutions with businesses to improve cross-border payment experiences.
Heiko Nix, global head of cashmanagement and payments at Siemens AG Heiko Nix , global head of cashmanagement and payments at Siemens AG, said: “Siemens AG’s collaboration with Standard Chartered marks a pivotal advancement in the realm of cross-border transactions. .
The company also pointed to the recent rise of the nostro account, an account owned by a financial institution in another country with funds held in local currency, used to facilitate cross-bordersettlement. This also means that cashmanagement and account maintenance can save FIs up to 74 percent, the company calculated.
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