Mastercard Has Completed Its Cbdc Trial With the Reserve Bank of Australia

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Last Updated on October 13, 2023 by Bitfinsider

Mastercard has concluded a pilot program with the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre for central bank digital currency.

The research examined how authorized parties who had followed know-your-customer protocols might store, utilize, and redeem CBDCs. According to a Mastercard statement, the study also examined how a holder may purchase an Ethereum-based NFT by locking the pilot CBDC and minting an equivalent quantity of Ethereum-based wrapped coins.

“As the digital economy matures, Mastercard has seen consumer demand to participate in commerce across multiple blockchains, including public blockchains,” said Richard Wormald, president of Mastercard’s Australasia business. “This technology not only has the potential to drive more consumer choice, but it also unlocks new opportunities for collaboration between the public and private networks to drive genuine impact in the digital currency space.”

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