{"id":5299,"date":"2023-10-13T08:20:08","date_gmt":"2023-10-13T08:20:08","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=5299"},"modified":"2023-10-13T08:20:08","modified_gmt":"2023-10-13T08:20:08","slug":"mastercard-completes-cdbc-pilot-study-with-rba","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/mastercard-completes-cdbc-pilot-study-with-rba\/","title":{"rendered":"MasterCard Completes CDBC Pilot Study with RBA!"},"content":{"rendered":"

Mastercard<\/strong>, in conjunction with the Reserve Bank of Australia<\/strong> and the Digital Finance Cooperative Research Centre<\/strong>, has completed a trial run of a central bank digital currency (CDBC)<\/strong><\/a>. Additionally the project tested how authorized parties who go through Know Your Customer protocols can use CBDCs. According to Mastercard\u2019s announcement, the project tested how an owner could purchase an Ethereum-based NFT by locking up their pilot CBDC and minting an equivalent amount of Wrapped Coin.<\/p>\n

In a statement from Richard Wormald<\/strong>, Head of Mastercard\u2019s Australasia division, he stated:<\/p>\n

\u201cAs the digital economy continues to mature, Mastercard<\/strong> has seen a demand from consumers to participate in commerce across multiple blockchains, including public ones,\u201d<\/p>\n

\u201cThis technology not only has the potential to encourage more consumer choice, it also opens up new opportunities for collaboration between public and private networks in order to make a real impact in the digital currency space.\u201d<\/p>\n

Furthermore, Australian financial services company Cuscal<\/strong> and blockchain technology firm Mintable<\/strong> announced their participation in Mastercard\u2019s pilot application.<\/p>\n

You might like: <\/i>Polygon Proposes a New Solution for ApeCoin!<\/strong><\/a><\/p><\/blockquote>\n

MasterCard’s CBDC Plan<\/h2>\n

Mastercard, with its new CBDC<\/strong> program, is focusing on providing people with choices about how to make payments. Mastercard<\/strong> aims to offer support to central banks with its central bank digital currency (CBDC)<\/strong> program. Due to the ongoing global interest in the CBDC<\/strong>, it believes this summer is the right time to launch the program. Raj Dhamodharan<\/strong>, Mastercard’s head of digital assets and blockchain, stated: \u201cOur goal is to encourage and support the ability to interact between different payment methods, as this is important for an evolving economy.\u201d<\/p>\n

\n

In the comment section, you can freely share your comments about the topic. Additionally, don\u2019t forget to follow us on\u00a0Telegram<\/strong>,\u00a0<\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Mastercard, in conjunction with the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre, has completed a trial run of a central bank digital currency (CDBC). Additionally the project tested how authorized parties who go through Know Your Customer protocols can use CBDCs. According to Mastercard\u2019s announcement, the project tested how an owner<\/p>\n","protected":false},"author":2,"featured_media":5298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1800,1738,1739,1973,1556,1971,1974,1972],"class_list":["post-5299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cbdc","tag-central-bank-digital-currency","tag-digital-currency","tag-digital-finance-cooperative-research-centre","tag-legalization-of-cbdc","tag-mastercard","tag-reserve-bank-of-australia","tag-wrapped-coin"],"yoast_head":"\nMasterCard Completes CDBC Pilot Study with RBA! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Mastercard, with Australia's Reserve Bank and Digital Finance Co-op, trialled a CBDC, even testing its use for Ethereum-based NFT purchases.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/mastercard-completes-cdbc-pilot-study-with-rba\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MasterCard Completes CDBC Pilot Study with RBA! 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