Visa Inc joined its rival Mastercard Inc in offering central banks a way to test retail applications for digital currencies that they might issue.
The card payment provider would begin piloting a program this spring with ConsenSys Inc, a blockchain software company, after discussions with about 30 central banks about goals related to government-backed digital currencies, Visa said.
Governments across the globe have been exploring the release of central bank digital currencies (CBDCs) in the face of fears that rapidly growing cryptocurrencies could destabilize financial markets or replace fiat currencies.
“We think that stablecoins and CBDCs will coexist in the future, and there’ll
CBDCs Inch Closer to Wider Acceptance as the Global Card Networks Build Alliances – Digital Transactions digitaltransactions.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from digitaltransactions.net Daily Mail and Mail on Sunday newspapers.