Finance giant Mastercard has developed a new platform where digital central bank currencies can be tested. Thanks to this crypto money platform developed by Mastercard, the usage areas of these digital currencies can be easily tested.
Mastercard announced in today’s press release that it is developing a new cryptocurrency platform. This platform, specially designed for digital central bank coins, will be opened to the use of central banks, commercial banks, financial companies and consumers.
Banks will be able to start using this cryptocurrency platform actively if they partner with Mastercard. Central banks will be able to examine the usage areas of digital central bank money by taking advantage of Mastercard’s services.
It will facilitate the development process
According to the information provided by Business Wire, Mastercard’s new platform will facilitate the development process of digital central bank funds. Financial and banking institutions that want to develop their own digital currency will be able to organize tests that are both safer and more effective thanks to this platform.
Aware of the intense interest in digital currencies, Mastercard management aims to offer alternative solutions to the relevant authorities. Raj Dhamodharan, Vice President of Blockchain Products and Partnerships with Mastercard Digital Asset, said in the press release:
“Central banks that want to increase the financial participation rate of the population have started to research digital currencies for this and many other purposes … Central banks will be able to prepare their local and regional economic policies more easily thanks to Mastercard’s new platform.”
Public and Private Sector Together
The fact that Mastercard, the giant name of the payment sector, has developed such a platform for central banks has received support from some names. One of them was Sheila Warren, World Economic Forum Blockchain, Digital Asset and Data Policy Manager. Warren thinks cryptocurrency efforts can advance more rapidly through public-private partnerships.
“Collaboration of public institutions and private companies on digital money can provide a better understanding of the concept of digital central bank money.”