Mastercard Releases Platform Enabling Central Banks to Test Digital Currencies
Payments giant Mastercard said its new testing platform will simulate the issuance, distribution and utility of digital currencies for central banks.
The Bahamian Sand Dollar can now be used for payments anywhere Mastercard is accepted.
The payments giant plans to support digital currency transactions directly on network.
The card supports 18 currencies, crypto among them.
The fee strategy, which sit at odds with blockchain's peer-to-peer model, could be the very thing that sees these firms fall behind the competition from stablecoin payment networks.
Crypto IP "puts us in a good position" for central bank digital currencies, said Mastercard President Miebach.