Mastercard Expands CBDC Partner Program to Deepen Involvement in Digital Currency Developments
Mastercard has announced the expansion of its CBDC Partner Program, which includes participants such as Ripple, Fireblocks, and Consensys. The move comes as the number of nations exploring central bank digital currencies (CBDC) continues to grow.
According to the Atlantic Council, as many as 130 countries, representing 98% of global gross domestic product, are currently exploring the potential of CBDC. This is a significant increase from the 35 countries that were considering CBDC in May 2020. However, despite the growing interest, only 11 countries have introduced a digital currency so far.
The payments giant’s initiative is aimed at fostering conversations among key players in the industry and deepening its involvement in CBDC developments. This move is seen as a strategic step for Mastercard to stay at the forefront of the rapidly evolving digital currency landscape.
As reported by CoinDesk, the expansion of the CBDC Partner Program is a clear indication of Mastercard’s commitment to playing a pivotal role in shaping the future of digital currencies.
With the increasing interest and adoption of CBDCs around the world, it is evident that digital currencies are set to play a crucial role in the global financial system in the coming years. Mastercard’s proactive approach in deepening its ties to CBDCs reflects the growing significance of digital currencies and their potential impact on the traditional financial landscape.
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