Embracing CBDCs
In an interview with Bloomberg’s Emily Chang, the CEO stated that the company would enable its clients to transact using Bahamas digital currency Sand Dollar.
The partnership offspring will enable Bahamas citizens to pay for services in Mastercard-accepted places.
Mastercard and Island Pay previously launched the first-ever global central bank digital currency linked card. Nevertheless, Mr. Miebach said the financial entity is still looking into which it can include private-backed stablecoins in its network.
When asked about Bitcoin, he said due to such cryptos’ volatile pricing; it will be difficult for Mastercard to adopt non-asset-backed digital coins. According to Bloomberg, when the corporation mentioned they would accept crypto payments in the future, it led to a price upsurge of several cryptocurrencies.