Central bank digital currencies (CBDCs), sometimes known as digital versions of fiat money backed by governments, are acquiring a substantial amount of traction around the globe. 93% of central banks are now involved in operations connected to CBDCs, and four retail CBDCs are already in full circulation, according to statistics from the Bank for International Settlements.
Mastercard is taking the initiative to understand and implement CBDCs by adopting a proactive approach. Jesse McWaters, who is in charge of worldwide regulatory advocacy at Mastercard, brought attention to the fact that it is necessary to address a variety of difficulties, some of which include the role that the private sector plays in the issuing of CBDCs, as well as security, privacy, and interoperability.
Mastercard has launched its CBDC Partner Programme in order to encourage cooperation among industry professionals and propel innovation in this space. Ripple,…
