MonoTouch allows developers to create iOS applications using C# and the .NET framework. It provides a thin layer on top of CocoaTouch, allowing applications to have the same native look and feel while taking advantage of standard .NET classes for tasks like file access, database access, and business logic. MonoTouch also supports cross-platform development, with shared code and APIs from Xamarin.Mobile that can be used across iOS, Android, and Windows Phone applications.