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Mastercard CEO Sides with CBDCs over Bitcoin to Help the Unbanked

2 mins
Updated by Kyle Baird
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In Brief

  • Mastercard CEO Ajay Banga believes that Bitcoin's volatility makes it useless for the purpose of expanding financial inclusion.
  • Banga believes CBDCs could be helpful in improving the efficiency of cross-border trade flows.
  • Mastercard has been testing its global testing platform designed to help central banks evaluate their CBDC use cases.
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David Hundeyin
David is a journalist, writer and broadcaster whose work has appeared on CNN, The Africa Report, The New Yorker Magazine and The Washington Post. His work as a satirist on 'The Other News,' Nigeria's answer to The Daily Show has featured in the New Yorker Magazine and in the Netflix documentary 'Larry Charles' Dangerous World of Comedy.' In 2018, he was nominated by the US State Department for the 2019 Edward Murrow program for journalists under the International Visitors Leadership...
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