Key facts:
Mastercard’s proof blockchain is offered to central banks to issue their CBDCs.
The consultancy is made up of more than 2,000 scientists, engineers and consultants.
Financial giant Mastercard has started offering consulting services to banks and merchants interested in trading cryptocurrencies and non-fungible tokens (NFTs). It also extends its area of action to central banks that are interested in digital currencies.
The company indicated that its offer of counseling that ranges from initial educationrisk assessments, and development of cryptocurrency and NFT strategies across the bank, from cryptocurrency cards to the design of crypto asset loyalty programs.
“Mastercard has selected partnerships with digital native firms that offer the best cryptocurrency solutions and has helped Fintechs expand into new markets, working through go-to-market strategies and go-to-market planning,” they explain in a statement. document published this February 15.
Regarding digital currencies, also known as CBDC, Mastercard commented that they want to help central banks to explore the way for the issuance of this type of coins. For this, the company makes its test blockchain platform available.
According to the US-based company, the tests will allow central banks to investigate various scenarios before implementation and draw on their experience in payment systems, policies and regulations.
This evolution of consulting is an acknowledgment of the changing world and our changing business. It’s about helping clients navigate today’s challenges and anticipate what’s next.
Raj Seshadri, President of Mastercard Data and Services.
Mastercard reported that its services and data area is made up of more than 2,000 scientistsdata engineers and consultants serving clients in 70 countries around the world.
Mastercard seeks to consolidate itself in the cryptocurrency industry
By now devoting itself to the advisory area, the financial services company seems to have seen the light for its stability in the cryptocurrency and NFT ecosystem.
As a result of its intention to expand in that world, it partnered with the bitcoin (BTC) exchange Coinbase, with the intention of making the purchase of non-fungible tokens easier in the collectible market that the American exchange house is preparing.
The idea is that people can buy digital pieces using Mastercard cardsin the market for NFTs, as reported by CriptoNoticias.
Another example was the sealed alliance between Mastercard and the software firm ConsenSys, last December.
The company’s intention is to launchConsenSys Rollupsa modular solution that would provide “scalability and privacy capabilities” to authorized applications connected to any Ethereum Virtual Machine (EVM) compatible system.
ConsenSys worked with Mastercard engineers on this development and with its release it appears that bothare determined to encourage companies to adopt blockchainsince these rollups are intended for business solutions.