Mastercard launches virtual test environment for central bank financial analysis

According to the announcement, global payment provider Mastercard has set up a virtual test facility to help global financial institutions test central bank digital currencies (CBDCs).

“Mastercard has announced the launch of a virtual test environment that will allow centralized banks to measure data usage using CBDC. The platform will be able to test the dissemination, distribution and exchange of CBDCs between banks, financial service providers and consumers.

According to the release, the move would allow banks to test whether the CBDC is for them and, if possible, place it in a region or country. The announcement is as follows. “The virtual platform can be customized to the environment in which the central bank operates, allowing us to work with banks and consumers to simulate the ecosystem of distributed, distributed and traded CBDCs, including how CBDCs interact with banks and traditional infrastructure such as real payments. . "

Raj Dhamodharan, Senior Vice President, Digital Assets and Blockchain Products and Partnerships at Mastercard, said: Consolidate funds to improve the payment ecosystem,” said Raj Dhamodharan, Senior Vice President of Digital Assets and Blockchain Products and Partnerships at MasterCard.

Mastercard is a founding member of the Facebook Libra Association. Libra is responsible for central banks to learn about digital advantages. Mastercard, along with Visa, withdrew from the Libra Association in October due to concerns about compliance and Libra's business model.

Visa, which announced card payments in partnership with Coinbase, said in July it would expand support for digital and blockchains to attract consumers.