The Executive Director of the Mastercard branch in the Asia-Pacific region Ari Sarker said that the company is ready to work with the national digital currencies. “While this currency is supported by the regulator and value, it is not anonymous and meets all the norms of legislation, this is a very interesting direction for us,” Sarker said.
Sarker also spoke about the Mastercard pilot program in Japan and Singapore, which will allow bitcoin holders to cash out cryptocurrency funds using the Mastercard network.
“We are not involved in crypto-currency trading, this pilot project is just a test, we are aware of all reputational risks,” he added.
Director General of Mastercard Ajay Banga is convinced that the national digital currencies are an interesting concept, and he considers other crypto-currencies as “rubbish”.
Bitcoin was implemented as an alternative de-centralized currency. But due to its growth, it became a source for making easy money. As bitcoin turnover grows, it has troubles such as high fees, slow transactions and volatile prices. “My take is that bitcoin is much more today a commodity that somebody could invest in; and honestly, somewhat of a speculative commodity,”
– said Kelly.