Mastercard is preparing its infrastructure for the deployment of CBDCs
The world's third-largest consumer payment processor remains bullish on the adoption of CBDCs. During an earnings call with investors and stakeholders, Michael Miebach, CEO of Mastercard, discussed his positive outlook on the cryptocurrency industry. The company has not only seen sizable volume growth in consumers using their Mastercards to purchase crypto but has also secured several partnerships with cryptocurrency firms. But Miebach's most ambitious viewpoint emerged during a discussion regarding central bank digital currencies, or CBDCs, saying:"We are saying at this point in time, the....
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Payments giant Mastercard has announced that it is preparing to allow a number of cryptocurrencies to move through its network directly. Customers, merchants, and businesses will no longer need to convert cryptocurrencies into fiat currencies to transfer through the Mastercard network. Mastercard Prepares to Let Cryptocurrencies Move Through its Network Mastercard announced Wednesday that it will start “bringing crypto onto its network.” In a blog post on the company’s official website, Raj Dhamodharan, Executive Vice President of Digital Asset and Blockchain, explained....
Mastercard is angling to become the go-to for governments and private entities when testing and rolling out central bank digital currencies or stablecoins. Traditional card networks are vying to ensure their services remain at the center of new developments in digital assets, whether they be central bank digital currencies or private sector stablecoins.In an earnings call on July 29, Mastercard CEO Michael Miebach discussed recent developments in crypto and CBDCs, making the pitch that the company was well-positioned to remain a linchpin of intra- and international value flows:"What we....
From CBDCs to payments and up to crypto forensics, Mastercard has been highly active in the digital currency market. Credit card giant Mastercard made a big splash in the digital asset market on Tuesday by announcing the launch of crypto-linked payment cards across the Asia-Pacific region. In partnership with three cryptocurrency service providers, namely Amber Group and Bitkub in Thailand and CoinJar in Australia, Mastercard will offer crypto-funded payment cards that enable users to instantly convert their digital assets into traditional fiat money. “Rather than directly transferring....
Mastercard’s CEO has outlined the company’s plans to develop products and services around cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs). “We want to be playing a role across all of them … It’s obviously a vibrant space around digital currencies,” said the CEO. Mastercard Wants a Role in All 3 Crypto Areas Payments giant Mastercard provided an update of its cryptocurrency plans during the company’s earnings call Thursday. CEO Michael Miebach explained that his company wants a role in three crypto areas. In addition to....
Tether chief technology officer Paolo Ardoino claimed CBDCs would primarily replace the age-old payment systems and utilize private blockchain as a modern and cost-controlled tech infrastructure. Paolo Ardoino, the chief technology officer at Tether, believes that the growing developments around central bank digital currencies (CBDCs) globally wouldn’t really impact the role of private stablecoins.Ardoino shared his two cents in a Twitter thread on the growing discussion around CBDCs and what their role could be in the current payment system. He said CBDCs would only replace the age-old....