MasterCard in talks with Chinese regulator to support international CBDC remittances
In China, CBDC testing is being actively conducted. Upon completion of its planned widespread launch of the national cryptocurrency. There is a great interest in this technology in the world.
MasterCard was one of the first to express its desire to support the digital yuan. As it became known, the payment giant is currently in talks with the Chinese side about launching cross-border money transfers in the CBDC.
This information was confirmed by a representative of Mastercard Asia Pacific. According to the co-chairman of the Asian branch of the payment company Mastercard, the Central Bank of China is currently considering the possibility of introducing cross-border payments.
Perhaps the easiest way to convert to foreign currency is the easiest way.
Perhaps the easiest way to convert to foreign currency is the easiest way. Using Mastercard, this can be done easily and quickly. The payment giant will launch a prepaid card that allows CBDC to be stored and converted in cross-border payments.
The health of this technology is not in doubt. Mastercard has already tested the possibility of mutual settlements with the help of a digital Bahamian dollar. There was not a single glitch in the work with digital currencies.
The main advantage of cooperation with Mastercard for the Central Bank of China will be the ability to focus on internal affairs. All external payments will be taken by Mastercard.
For it, the digital yuan will become just another currency among dozens of others. This will help to increase the adoption of the national crypto and make the introduction of CBDC easier and more painless.