Mastercard Payment System (NYSE:MA) has worked with the Reserve Bank of Australia (RBA) to test the purchase of NFT for the government’s digital currency.

The process of purchasing non-mutualizable tokens consisted of three steps:

First, a certain number of CBDCs were blockchained on a platform developed by the RBA;
Then, a similar number of “wrapped” central bank digital assets (Wrapped CBDCs) were issued on the Ethereum blockchain (ETH);
Wrapped CBDC coins were then used to pay for NFTs.
Thus, Mastercard and RBA employees tested the tokenization of the state cryptocurrency and verified the interoperability of the blockchain platform created by the Australian Central Bank.

A curious fact is that despite the connection to the Ethereum public network, officials retained full control over CBDC turnover, because only owners of wallets on the list of approved cryptocurrencies could make a NFT purchase and sale transaction.

As the digital economy has matured, Mastercard customers have become interested in the commercial use of different blockchains, including public blockchains. This technology can not only drive consumer demand, but also open up new opportunities for collaboration between public and private networks,” said Richard Warmald, President of Mastercard Australia.

By Linda

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