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Mastercard Launches The Central Bank Digital Currency (CBDC) Test Platform
Summary: According to Businesswire, on September 9th, MasterCard announced a proprietary virtual test environment for the central bank to evaluate CBDC use cases. The platform can simulate the issuance, distribution and exchange of CBDC between banks, financial service providers and consumers. Central banks, commercial banks, and technology and consulting companies are invited to collaborate with MasterCard to ...
According to Businesswire, on September 9th, MasterCard announced a proprietary virtual test environment for the central bank to evaluate CBDC use cases. The platform can simulate the issuance, distribution and exchange of CBDC between banks, financial service providers and consumers. Central banks, commercial banks, and technology and consulting companies are invited to collaborate with MasterCard to evaluate CBDC technology designs, verify use cases, and evaluate interoperability with existing payment standards available to consumers and businesses today.
This new platform provides support for the central bank to make decisions about the development path of local and regional economies now and in the future. Central banks can also benefit from support, they can explore the set of options available for CBDC, and they can gain insight into opportunities that may arise.
Raj Dhamodharan, Executive Vice President of Mastercard Digital Assets and Blockchain Products and Partnerships, said: “The Central Bank has accelerated the exploration of digital currencies, and its goals range from fostering financial inclusion to Various goals such as a modern payment ecosystem.
Tags: CBDC,Central Backed Digital Currency,Mastercard
Link: Mastercard Launches The Central Bank Digital Currency (CBDC) Test Platform [Copy]
