Mastercard Unveils Multi-Token Network
Mastercard’s head of crypto and blockchain, Raj Dhamodharan, has announced the introduction of Mastercard Multi-Token Network (MTN), a tailor-made solution for the industry. The platform aims to provide secure, scalable, and interoperable transactions within the digital asset and blockchain ecosystems, enabling more efficient payment and commerce applications.
Key Points:
– MTN is an “app store powered by blockchain technologies for building regulated financial applications.”
– Developers will have access to a range of tools, including a private version of the Ethereum blockchain, to build innovative applications.
– The beta version of MTN will be released in the U.K. this summer for testing with financial institutions, fintechs, and central banks.
– The first phase of applications will be powered by tokenized bank deposits, with plans to expand to additional markets worldwide.
– Mastercard believes that digital asset and blockchain technologies will become critical infrastructure for storing and moving value.
Mastercard has been actively involved in various crypto, blockchain, and CBDC projects, demonstrating its commitment to the digital asset industry and its future.
Hot Take
Mastercard’s launch of the Multi-Token Network reflects its dedication to embracing blockchain and digital asset technologies. By providing developers with tools and a platform for building financial applications, Mastercard aims to support the wider digital asset industry and strengthen confidence in its future. As MTN expands to additional markets, it has the potential to revolutionize the way transactions are conducted within the digital asset and blockchain ecosystems.
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