18 August 2023

Mastercard launches CBDC partner programme

Written By FinTech Alliance

Mastercard launches CBDC partner programme

Mastercard has put together a central bank digital currency partner programme comprised of firms from across the ecosystem, including Ripple and Consensys.

In brief:

-The vast majority of central banks are engaged in some form of work on CBDCs, and four retail versions are already in full live circulation, according to the Bank for International Settlements.

-In 2020, Mastercard built a virtual testing platform to help central banks assess and explore national digital currencies.

-Mastercard is looking to help answer some of these questions by fostering industry collaboration though its new partner programme, which includes Fluency, Idemia, Consult Hyperion, Giesecke+Devrient and Fireblocks.

What does this mean?

Raj Dhamodharan, head, digital assets and blockchain, Mastercard, says: "We believe in payment choice and that interoperability across the different ways of making payments is an essential component of a flourishing economy,

Read more here.

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