As central bank digital currencies (CBDCs) grow in popularity, the world’s payments leaders are making preparations.
On a recent earnings call, Mastercard CEO Michael Miebach discussed the company’s plans to support CBDCs, Securites.io noted in a Tuesday (Nov. 2) report.
“We are saying at this point in time, the most likely chance for this kind of technology to work for payments is if it’s issued through a government in the form of a CBDC,” he said.
“We said that on a couple of calls before, and we said that we will make our network ready to do that as and when a government is ready to put out a CBDC that will exist alongside the dollar or the euro as a settlement currency in our network.”