• Payments giant Mastercard is launching a new platform, the Mastercard Multi-Token Network (MTN), for blockchain-based applications.
• The MTN is similar to Apple’s app store and provides developers access to Mastercard’s tools including a private version of the Ethereum (ETH) blockchain.
• This move is part of Mastercard’s foray into the world of crypto as it expands its presence in the digital asset space.
Mastercard Launches Blockchain App Store in Beta
Payments giant Mastercard has launched a new platform for blockchain-based applications called the Mastercard Multi-Token Network (MTN). According to Fortune, the platform is similar to Apple’s app store and provides developers access to Mastercard’s tools including a private version of the Ethereum (ETH) blockchain. The beta version of MTN will be tested in the UK this summer with financial institutions, fintech firms, and central banks.
Expanding Presence in Digital Asset Space
This launch marks another stride forward by Mastercard into the world of crypto as they seek to expand their presence in the digital asset space. Earlier this month, they filed an application for trademarking a set of crypto and blockchain tools, and have also announced that they are expanding their Engage partner network to broaden access to digital assets.
Head Of Crypto And Blockchain On MTN
Raj Dhamodharan, Executive Vice President and Head Of Crypto And Blockchain at MasterCard stated that “MTN represents one of master card’s most ambitious projects in the digital asset space to date…Our goal is to support wider digital asset industry and interested parties to help fortify confidence in its future”
What Does MTN Offer?
The MTN offers developers access to various tools that can aid them when building regulated financial applications – ranging from tokenized bank deposits through private versions of Ethereum blockchains.
Testing In UK Summer
The beta version of MTN will be released this summer as a test bed for applications and use cases with financial institutions, fintech firms, and central banks in hopes that it will provide support for digital asset industries worldwide while increasing confidence surrounding them.
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