Mastercard launches CBDC testing platform – Asia Times



Mastercard has launched a central bank digital currencies (CBDCs) testing platform to enable central banks to assess and explore national digital currencies. 

The move is seen as positive for crypto because it could help to accelerate the mainstream adoption of digital currencies in general.

Led by China, which is testing a digital version of the yuan, central banks around the world are embracing the idea of creating their own digital currencies.

According to a recent survey conducted by the Bank for International Settlements, 80% of central banks are working on developing CBDCs and 40% have graduated from conceptual research to experimentation.

In a statement, Mastercard said the new protocol would help financial institutions understand the feasibility of CBDCs and allow them to explore new use cases, including issuance at a local or regional level. The payments giant has publicly stated that it is already working with some central banks and that other entities, such as banks or tech firms, are being invited to use the platform.



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