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Mastercard Inc. has embarked on a groundbreaking collaboration with some of the largest US banks to test shared-ledger technology aimed at facilitating the common settlement of tokenized assets. These assets include commercial-bank money, Treasury securities, and investment-grade debt securities. Referred to as the Regulated Settlement Network proof-of-concept, the initiative aims to simulate transactions in dollars. According to Mastercard, the ultimate goal is to enhance the speed and efficiency of cross-border transactions while minimizing the risks associated with error and fraud.