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Credit card giant Mastercard is venturing further into the crypto and blockchain space. Its latest offering will be a blockchain-based marketplace for financial applications.

On June 29, it was reported that the payments giant was planning to launch a “Multi Token Network” in beta in the UK over the next few months.

Mastercard’s executive vice president and head of crypto and blockchain, Raj Dhamodharan, described it as an “app store powered by blockchain technologies for building regulated financial applications.”

Mastercard is Delving Deeper Into the Crypto Space

Mastercard’un MTN’si, kredi kartı şirketinin bu yıl geliştirdiği araçlara geliştiricilere erişim sağlayacak.

Bunlar arasında, şirketin geliştiricilere yeni uygulamalar inşa etmeleri için teşvik edeceği Ethereum (ETH) blok zincirinin özel bir sürümü bulunuyor, rapor not etti. Dhamodharan, Fortune’a şunları söyledi:

“A lot of the things people cover and talk about these days in crypto are the regulatory aspects of it and all the technology and investment as an asset and so forth”

He added that the underlying technology that powers crypto is “actually quite useful.” The company confirmed its commitment to the crypto space in the official announcement, stating that this step is a “natural evolution” for a “wider range of payment solutions.”

“Our goal is to support the wider digital asset industry and interested parties to help fortify confidence in its future.”

Mastercard’s previous ventures in the digital asset sector include non-fungible tokens (NFT‘s), crypto-linked credit and debit cards, crypto infrastructure, and developer tools.

The company also offers products such as ‘Crypto Secure,’ ‘Crypto Source,’ and ‘Crypto Credential,’ claiming that they bring “more transparency and trust to this space.”

Programs and applications on the new app store can be written in Solidity, the Ethereum programming language. Additionally, developers using the beta version will be able to experiment with tokenized commercial bank deposits and blockchain data that indicates the amount of cash someone has in their bank account.

According to the announcement, Mastercard plans to make MTN available in additional markets around the world over time.

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