Mastercard CEO Sides with CBDCs over Bitcoin to Help the Unbanked

2 mins
29 October 2020, 07:41 GMT+0000
Updated by Kyle Baird
2 November 2020, 09:17 GMT+0000
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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