• Mastercard is rolling out a new platform for blockchain-based applications, called the Mastercard Multi-Token Network (MTN).
• The app store provides developers access to Mastercard’s tools including a private version of the Ethereum (ETH) blockchain.
• MTN is part of Mastercard’s wider crypto and blockchain foray, as it also filed an application to trademark a set of crypto and blockchain tools recently.
Payments Giant Mastercard Launches ‘Blockchain App Store’ in Beta
Payments giant Mastercard is rolling out a new platform for blockchain-based applications as it expands its presence in the digital asset space. The app store, called the Mastercard Multi-Token Network (MTN), is similar to the Apple app store but provides developers with access to specialized tools like a private version of the Ethereum (ETH) blockchain. The beta version will be released this summer in the UK as a test bed for applications and use cases with financial institutions, fintech firms and central banks.
Tools Provided by MTN
MTN is powered by tokenized bank deposits and provides developers with access to other tools from Mastercard such as smart contracts and open APIs. It will also support multiple tokens on one network, allowing users to transact different types of assets within one platform securely. Additionally, MTN will enable users to create their own tokens through services like staking or collateralization.
Mastercards Ongoing Crypto Foray
The launch of MTN comes as part of an ongoing foray into cryptocurrency for Mastercard. Earlier this month, they filed an application to trademark a set of crypto and blockchain tools, while expanding their Engage partner network that connects consumers to digital assets more easily. With these initiatives, they hope that they can build confidence in the future of cryptocurrencies and digital assets overall.
Benefits Of MTN
The introduction of MTN offers numerous benefits for both businesses and consumers alike. By providing developers with powerful tools such as tokenized bank deposits, it allows them to create innovative financial products that can help streamline payments processes across various industries faster than ever before. This could prove especially useful when dealing with cross border payments where traditional payment methods are often too slow or expensive compared to distributed ledger technology based solutions like those provided by MTN .
Overall, Mastercards launch of its new Blockchain App Store shows just how serious they are about getting involved in cryptocurrency and digital assets more broadly. By providing developers with sophisticated tools such as tokenized bank deposits on their private Ethereum network , they are taking big steps towards making digital currencies mainstream sooner rather than later!