On October 12th, Mastercard successfully completed a trial involving the wrapping of Central Bank Digital Currencies (CBDC) on various blockchain networks, similar to the concept of wrapped Bitcoin (wBTC) and wrapped Ether (wETH). This trial was conducted in collaboration with the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre for CBDCs in Australia, with participation from Cuscal and Mintable.
In a real-world setting, Mastercard's solution enabled CBDC owners to purchase non-fungible tokens (NFTs) listed on the Ethereum blockchain. A prerequisite for the test transaction was that the Ethereum wallets of both the buyer and seller, as well as the smart contract of the NFT marketplace, had received prior approval within the platform. By blocking all other transfers of the wrapped pilot CBDC, the trial successfully demonstrated the platform's ability to enforce controls, even on public blockchains.
This solution leverages Mastercard's Multi Token Network, which seamlessly integrates payment technology with blockchain technology.