Vice President of Mastercard Asia Pacific: Future currency will develop around cryptocurrency and CBDC

Vice President of Mastercard Asia Pacific: Future currency will develop around cryptocurrency and CBDC

2021/11/22

According to reports, Rama Sridhar, vice president of Mastercard Asia Pacific, said in an interview with Tech Wire Asia that future currencies will develop around cryptocurrencies and CBDC. Sridhar said: To improve digital transformation, financial and digital inclusion, and eliminate cash, CBDC will be the way forward. However, there are still many frameworks and tasks to be established and completed. The central bank must ensure that the existing payment ecosystem and CBDC coexist harmoniously. MasterCard has begun to provide customers with cryptocurrency-linked debit cards, credit cards, and digital wallets, as well as cryptocurrency-based loyalty reward programs. Sridhar said that MasterCard's concept of facing cryptocurrency is straightforward; it just provides a choice. We are not encouraging everyone to start using cryptocurrency. We want to enable customers, merchants, and businesses to transfer digital value the way they want, whether traditional or encrypted. This is everyone's money, and everyone should have the right to choose.

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