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11/04/2021

Mastercard Will Make Digital Currencies Work if Issued by Governments

PYMNTS.com

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.”

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