Mastercard launches central bank digital currency test platform

On September 10, according to foreign media reports, on Wednesday, local time, Mastercard launched a central bank digital currency (CBDC) test platform, enabling the central bank to evaluate and explore central bank digital currencies on this platform.

It is reported that the platform can be used to simulate the issuance, distribution and exchange of central bank digital currency between banks, financial service providers and consumers.

Mastercard invites central banks, commercial banks, and technology and consulting companies to work with them to evaluate the central bank’s digital currency technology design, verify use cases, and evaluate the interoperability of the platform with existing payment standards available to consumers and businesses today.

The company said in a statement that the new platform will help financial institutions understand the feasibility of central bank digital currencies and allow them to explore new use cases, including issuance at the local or regional level.

In early February of this year, Fed Governor Lael Brainard (Lael Brainard) stated that the U.S. Central Bank is studying the feasibility of issuing digital currencies.

He also stated that the Federal Reserve is conducting research and experiments related to distributed accounting technology and its potential use cases for digital currencies, including the possibility of developing central bank digital currencies (CBDC).

In late February of this year, the Riksbank also stated in a statement that it has begun testing the digital currency-e-Krona (e-Krona), which makes the country one step closer to creating the world’s first central bank digital currency (CBDC) .

In recent years, private companies are also trying to develop digital payment systems and digital currencies, including Facebook’s Libra digital currency project, and the “Libra Association” is mainly responsible for managing and operating the project.

It is reported that MasterCard was one of the first 28 “founding members” of the “Libra Association”, but due to growing concerns about the compliance and business model of the Libra project, the company withdrew from the association in October last year.

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