Mastercard empowers developers with tools for creating innovative payment apps for enhanced efficiency.
Mastercard is preparing to launch a “Multi Token Network” in beta soon for financial payments.
Raj Dhamodharan, Mastercard’s EVP and Head of Crypto and Blockchain, describes it as a blockchain-powered app store for creating regulated financial applications. It will essentially be an app store on the Ethereum blockchain dedicated to regulated financial apps.
Mastercard’s MTN (Mastercard Technology Network) will offer developers access to tools developed by the credit card company. These tools include a private version of the Ethereum blockchain, which will encourage developers to create innovative applications.
According to Raj Dhamodharan, while there is a lot of discussion about the regulatory aspects and technology of cryptocurrency, Mastercard’s focus is on the technology and investment aspects.
Continuing to appreciate blockchain technology, he further mentioned that it is “really useful” in practical terms.
MasterCard’s Crypto Expansion:
MasterCard, the major player in financial payments, has been actively pursuing opportunities in the crypto space. They have reaffirmed their dedication, describing it as a “natural progression” to offer a broader selection of payment solutions.
MasterCard aims to bolster trust in the future of the digital asset industry by providing support to the industry and interested parties. The company has been actively expanding its presence in the crypto market to achieve this goal.
Mastercard has entered the digital asset industry through multiple initiatives, such as non-fungible tokens (NFTs), credit and debit cards connected to cryptocurrencies, crypto infrastructure, and tools for developers.
They offer products like ‘Crypto Secure,’ ‘Crypto Source,’ and ‘Crypto Credential’ to promote transparency and trust in this domain. The programs and applications available on their new ‘app store’ can be developed using Solidity, the programming language of Ethereum.
In the future, MasterCard intends to expand the availability of MTN to more markets across the globe.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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