Mastercard launches virtual platform to help governments test CBDC

Payment giant Mastercard has introduced a virtual platform that will allow Central banks to evaluate and hold experiments with Central Banks` digital currencies. Central banks can benefit from support in exploring the set of options available to them in relation to CBDC, as well as in getting information about what opportunities may appear in the future

Researches on currencies can help Central banks

According to the announcement, Mastercard virtual testing platform is an innovative virtual resource for user testing that will allow Central banks to evaluate usage scenarios and testing deployment strategies for CBDC by modeling ITS ecosystem. As stated in the announcement, the platform will allow modeling the issuance, distribution, and exchange of CBDC between banks, financial service providers, and consumers.

As a multinational company whose business offerings focus on payments and money transfers, Mastercard said it is committed to partnering with the public sector, banks, and stakeholders in the payment ecosystem to collectively explore CBDC.