Updated: 3 months
• Payments giant Mastercard has launched a new program focused on central bank digital currencies (CBDC)
• The CBDC Partner Program brings together key players to drive CBDC innovation and efficiency
• Ripple, Consensys, Consult Hyperion, Fireblocks, Fluency, Giesecke+Devrient and Idemia are some of the inaugural partners in the program
Payments Giant Mastercard Launches New Program
Payments processing giant Mastercard has announced the launch of the CBDC Partner Program. The initiative aims to engage key players to drive CBDC innovation and efficiency. This comes as countries worldwide mull issuing their own version of the government-backed assets.
Partners in the Program
Mastercard’s inaugural partners in the program include blockchain-based digital payment network Ripple, web3 software company Consensys, technical consultancy firm Consult Hyperion, digital asset operations firm Fireblocks, CBDC marketplace platform Fluency, security technology group Giesecke+Devrient and digital identity technology provider Idemia.
Increasing Interest in CBDCs
Mastercard is rolling out the program amid increased interest in CBDCs around the globe. Citing data from the Bank for International Settlements, 93% of central banks are engaged in CBDC-related development.
Benefits of Mastercard’s Initiative
According to Mastercard’s head of digital assets and blockchain Raj Dhamodharan: “By assembling the strengths, deep expertise and different capabilities of these partners, we can drive innovation in the central banking community and along the CBDC value chain as