The solution was developed in partnership with Australian financial services firm Cuscal and fintech company Mintable
On October 12, the credit card company Mastercard announced the successful completion of a trial involving wrapping Central Bank Digital Currencies (CBDCs) on different blockchains. The new solution enables CBDCs to interoperate across multiple blockchains with increased ease and security.
The trial was executed as a part of the CBDC pilot project by the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC) to explore the potential use cases of CBDC in Australia. The solution was developed in partnership with Australian financial services firm Cuscal and fintech company Mintable.
With all other transfers of the wrapped pilot CBDC blocked, the platform’s ability to implement controls even on public blockchains was successfully demonstrated.