Mastercard CEO prefers CBDC’s and Stablecoins over Bitcoin

Share on facebook
Share on google
Share on twitter
Share on linkedin
A VPN is an essential component of IT security, whether you’re just starting a business or are already up and running. Most business interactions and transactions happen online and VPN

Ajay Banga, the CEO of global credit card powerhouse Mastercard said in a Fortune interview with Alan Murray that he was less interested in Bitcoin and gave preference to both CBDC’s and Stablecoins. It’s not the first time Banga has come out against BTC, in October 2020 he said that the king crypto was too volatile, and could not be used as a tool for financial inclusion, and in 2017 he called Bitcoin, and other similar cryptocurrencies ‘Junk’ due to what he described as their ‘mercurial nature’ and ‘illicit use cases’. Clearly nobody has educated Mr Banga to the fact that, whilst it’s true that Bitcoin has been used in some criminal activity, so has every other currency out there, and few of them have ever achieved the sort of meteoric rise that BTC has had.

Can you imagine someone who is financially excluded trading in a way to get included through a currency that could cost the equivalent of two Coca-Cola bottles today and 21 tomorrow? That’s not a way to get them [included]. That’s a way to make them scared of the financial system.

Ajay Banga, Mastercard CEO

In a blogpost published in February 2021, Mastercard said it would consider supporting certain cryptocurrencies on it’s network, but to date that only seems to extend to fiat-pegged stablecoins.

Dylan Leighton

Dylan Leighton

Dylan Leighton is an composer, music producer, sound designer and mix engineer from the United Kingdom. Making music for over 40 years, he creates music for corporate clients, film and video, and his own personal enjoyment. Writing under the artist name Kalliste, he has composed in just about every genre, from hip-hop to funk to classical.

Leave a Replay

Sign up for our Newsletter

Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit