Institutional finance in the U.S. has recently doubled down on crypto. After BlackRock submitted an application for a Bitcoin spot ETF in mid-June, a slew of other asset managers followed suit, including WisdomTree and Invesco. Now, Mastercard has joined the fray.
On Wednesday, in perhaps one of its most ambitious crypto-related announcements yet, the payments giant said it was planning to launch a beta in the U.K. over the summer to test what it calls the Multi Token Network, or an “app store powered by blockchain technologies for building regulated financial applications,” Raj Dhamodharan, a Mastercard executive vice president and the firm’s head of crypto and blockchain, told Fortune.
