Mint Corp. announced the creation of a subsidiary called Mint Block Corp., which will focus on creating intellectual property and applications that use blockchain technology with Mint's financial technology platform.

Mint Block partnered with BLOCK512 LLC, a blockchain advisory company, to accelerate its development.

The subsidiary will prioritize enhancing Mint's existing technology platform with blockchain technology, particularly payroll, remittance, insurance and lending. Mint Block will also assess investing in, or partnering with, emerging blockchain technologies looking to gain access to Mint's customer base.

Additionally, Mint Block named Jeremy Drzal, founder and CEO of BLOCK512, as a strategic adviser.