Mastercard, Western Union Prep for CBDCs’ Uncertain Future
Central bank digital currencies are being slowly tested in Europe, the U.S. and U.K. and are far from sure things, but payment companies are positioning themselves in case they take hold in those markets.
Mastercard last week launched a partner program for CBDCs, while Western Union and the Digital Dollar Project recently finished a test of cross-border CBDC payments.
The projects are separate, but both are designed to position the payment firms to play a role if and when CBDCs are introduced in large countries such as the U.S.
Western Union, the Digital Dollar Project, Accenture and BDO Bank in the Philippines have built a platform that uses CBDCs for cross-border remittances.
Source:American Banker
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