Mastercard has successfully completed a trial of a central bank digital currency (CBDC) in collaboration with the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC). The project focused on exploring Mastercard’s capabilities to facilitate CBDC transactions on the public Ethereum blockchain. This move comes in response to growing consumer demand for participation in commerce across multiple blockchains. The trial showcased how Mastercard’s technology could enable a holder of a pilot CBDC to purchase a non-fungible token (NFT) listed on the Ethereum blockchain. To achieve this, the solution locked the required CBDC amount on the RBA’s platform while minting wrapped tokens on Ethereum. This demonstration highlighted Mastercard’s ability to maintain necessary controls and compliance when transacting CBDCs on public blockchains. The company utilized its Multi Token Network and Crypto Credential offerings, which prioritize verification standards and scalable interoperability. The project also involved Australian payment company Cuscal and the NFT marketplace Mintable.

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Information	Details
Geography	Australia
Countries	🇦🇺
Sentiment	positive
Relevance Score	1
People	Richard Wormald
Companies	Mintable, Mastercard, Digital Finance Cooperative Research Centre (DFCRC), Cuscal, Reserve Bank of Australia (RBA)
Currencies	CBDC, Ethereum
Securities	None