Payments giant Mastercard is fully behind supporting state-backed, central bank-issued cryptocurrencies, a senior executive has revealed.
In an interview with the Financial Times, Mastercard Asia-Pacific co-president Ari Sarker has opined that the world’s second-biggest payments company would be “very happy to look at” supporting national digital currencies that are issued and backed by central banks.
Central bank-issued cryptocurrencies are currently garnering plenty of interest amid widely-publicized research efforts undertaken by a number of nations including China, Singapore, Canada, Israel, South Africa, Sweden and more. They are, however, yet to materialize despite the likes of China and Singapore successfully trialing digitized versions of their fiat currency on a blockchain. The first notable release of a state cryptocurrency, for better or worse, is the controversial oil-backed Petro, proclaimed as a national cryptocurrency that will evade international sanctions by Venezuelan president Nicolas Maduro.