Mastercard, in collaboration with the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC), has unveiled a pioneering solution that fosters the interoperability of Central Bank Digital Currencies (CBDCs) across diverse blockchain networks, aiming to bolster Web3 commerce both within Australia and globally.
The venture represents a significant stride towards the harmonization of CBDCs with various blockchain ecosystems, ensuring their utilization by authorized entities in a secure manner. The technology demonstrated by Mastercard allows CBDCs to be tokenized, or “wrapped,” onto different blockchains, thereby expanding consumers’ ability to engage in commerce across multiple blockchain platforms securely and effortlessly. This initiative is part of a broader RBA and DFCRC project to explore the possible applications of a CBDC in Australia.
A notable aspect of this endeavor was a live…
