Digital payment Mastercard CEO Michael Miebach expressed his strong support for central bank digital currency (CBDC) in today’s third-quarter earnings conference call.
Within the discussion in regards to the central bank digital currency or CBDC, Miebach mentioned that MasterCard is able to present a protected house for government-private sector banks to test CBDC and develop into a service supplier.
Michael Miebach mentioned that:
“We’re saying at this point in time, the most certainly chance for this sort of technology to work for funds is if it is issued via a authorities within the type of a CBDC. We mentioned that on a few calls before, and we mentioned that we’ll make our community prepared to try this as and when a authorities is able to put out a CBDC that will exist alongside the dollar or the euro as a settlement currency in our network.”
On October 21, the Bahamas became the first nation on this planet to issue CBDC. As reported by Cmnnews. On October 26, Nigeria has become the primary African nation to launch a CBDC known as eNaira formally.
As well as, On Monday, October 25, Payment giant Mastercard introduced cooperation with U.S. Institutional Exchange Bakkt to increase integrated cryptocurrency options and payment providers.
Mastercard mentioned that the third-quarter financial report information confirmed that the regular management of the epidemic and the opening of cross-borders have additionally begun to encourage the general public to make use of Mastercard for cross-border payments.
Within the third-quarter financial report announced, the corporate’s net profit and earnings per share belonging to shareholders have each exceeded expectations.
The statistics show that Q3 internet income was US$4.985 billion, in contrast with US$3.837 billion in the identical interval last year, an increase of 30% year-on-year in accordance with GAAP accounting standards.
Net profit within the third quarter was as much as US$2.414 billion, a year-on-year increase of 59% from US$1.513 billion in the identical period last year.
Source: Blockchain News