Mastercard launches Central Bank Digital Currencies (CBDCs) testing platform, enabling central banks to assess and explore national digital currencies. — Photo Mastercard Mastercard has announced a proprietary virtual testing environment for central banks to evaluate Central Bank Digital Currencies (CBDC) use cases. The platform enables the simulation of issuance, distribution and exchange of CBDCs between banks, financial service providers and consumers. Central banks, commercial banks, and tech and advisory firms are invited to partner with Mastercard to assess CBDC tech designs, validate use cases and evaluate interoperability with existing payment rails available for consumers and businesses today. “Central banks have accelerated their exploration of digital currencies with a variety of objectives, from fostering financial inclusion to modernising the payments ecosystem,” said Raj Dhamodharan, Executive Vice President, Digital Asset and Blockchain Products and Partnerships, Mastercard. “Mastercard is driving innovation with the public sector, banks, fintechs, and advisory firms in the exploration of CBDCs, working with partners that are aligned to our core values and principles. This new platform supports central banks as they make decisions now and in the future about the path forward for local and regional economies,” added Dhamodharan. Sheila Warren, Head of Blockchain, Digital Assets and Data Policy… Read full this story
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