MasterCard's CBDC pilot project with the Reserve Bank of Australia demonstrates support for purchasing Ethereum NFTs

2023-10-13 09:26:59

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ChainCatcher news, payment giant MasterCard has participated in the central bank digital currency (CBDC) pilot project with the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC), exploring potential use cases for CBDC in Australia. MasterCard also showcased a solution that enables CBDC to be tokenized (or wrapped) onto different blockchains.

This solution was developed in collaboration with Australian payment and regulated data service provider Cuscal and NFT-as-a-service provider Mintable, ensuring that the pilot CBDC can only be held, used, and redeemed by authorized parties (who have passed KYC verification and risk assessment through licensed service providers). MasterCard demonstrated in a live environment how this solution allows holders of the pilot CBDC to purchase NFTs listed on Ethereum.

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