Mastercard’s CBDC pilot ventures into Ethereum and NFTs
Mastercard in conjunction with the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre, revealed Thursday the latest results of their CBDC pilot project. Notably, the pilot included a live transaction where an NFT was purchased on the Ethereum blockchain using a “wrapped” version of the CBDC, according to a statement. Jointly developed with financial services company Cuscal and blockchain platform Mintable as part of the bank and cooperative’s research project, the tech is designed to make CBDCs interoperable across various chains.
The pilot, which places a real legal claim on the RBA, involved selected industry participants and demonstrated how a CBDC could provide payment and settlement services to Australian households and businesses. “Mastercard has seen demand from consumers to participate in commerce across multiple blockchains, including public blockchains,” Richard Warmold, the company’s Division President of Australasia said. “This technology not only has the potential to drive more consumer choice, but it also unlocks new opportunities for collaboration between the public and private networks to drive genuine impact in the digital currency space.” During the live test, Ethereum wallets of both the buyer and seller were ‘allow-listed,’ demonstrating the tech’s capacity to enforce controls on public blockchains.
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