Mastercard has completed a trial involving wrapping a central bank digital currency (CBDC) on different blockchains. This is similar to wrapping Bitcoin (wBTC) and Ether (wETH).
As announced on October 12, the experiment was carried out.joint actionwith the Reserve Bank of Australia (RBA) and the country’s CBDC Digital Finance Cooperative Research Center, along with participation from Cuscal and Mintable in real-world environments, Mastercard says its solution allows CBDC owners to purchase NFT tokens on Ethereum in The actual environment “has a process of ‘locking in’ the required amount of CBDC on the RBA platform and generating the same amount of Wrap CBDC tokens on Ethereum.”
“A prerequisite of the test is that both buyer and seller Ethereum wallets and NFT market smart contracts are ‘allow-listed’ within the platform. This demonstrates the platform’s ability to achieve successful control. Even on public blockchains.”
The solution uses Mastercard’s Multi Token Network, which launched in June 2023, combining payment technology with blockchain. “Together with Mastercard, we have found a use case that can easily connect cryptocurrencies and NFTs, protect against fraud and theft, and open up new opportunities for commerce,” said Zack Burcks, CEO and Founder of Mintable. say
refer : cointelegraph
picture coinjournal
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