MasterCard Says Wide Adoption of CBDCs Would be Difficult
According to payments giant Mastercard, adoption is the most challenging aspect of state-issued digital currencies. MasterCard Says Wide Adoption of CBDCs...
- Mastercard believes that adoption is the most challenging aspect of state-issued digital currencies.
- Central bank digital currencies (CBDCs) are not expected to be implemented in the near future as consumers are comfortable with traditional forms of money.
- Cash is still the most widely used form of payment.
- CBDCs may have a place in interbank transactions, but not in retail transactions in countries with efficient payment mechanisms like Singapore.
- The International Monetary Fund (IMF) sees digital currencies as a way to improve financial inclusion and offer resilience in more developed economies.
The sentiment of the article is neutral. It presents different perspectives on the adoption and implementation of state-issued digital currencies.