According to Cointelegraph, Mastercard completed the trial involving wrapping central bank digital currencies (CBDCs) on different blockchains. This new trial is expected to be similar to wrapped Bitcoin (wBTC) and wrapped Ether (wETH).
“A pre-requisite of the test transaction was that the Ethereum wallets of both the buyer and seller, as well as the NFT marketplace smart contract, were ‘allow-listed’ within the platform. With all other transfers of the wrapped pilot CBDC blocked, it successfully demonstrated the platform’s ability to implement controls – even on public blockchains,” Cointelegraph explained.
The solution is believed to use Mastercard’s Multi Token Network, which was introduced in June 2023, integrating payment technology with blockchains, Cointelegraph added.
Furthermore, “Together with Mastercard, we have identified a use case whereby digital currencies and NFTs can easily be linked, potentially stamping out fraud and theft, ending the loss of documentation and records, and unleashing new possibilities for commerce,” Zack Burcks, CEO and founder, Mintable, concluded.
(With insights from Cointelegraph)
