Bitcoin can't help bank the unbanked claims Mastercard CEO

Cointelegraph

Published Oct 27, 2020 10:21PM ET

Updated Oct 28, 2020 12:40AM ET

Bitcoin cannot function as an inclusive currency for the unbanked due to its volatility, Mastercard (NYSE:MA) CEO Ajay Banga said during Tuesday’s Fortune Global Forum conference. He also cited a lack of knowledge about who is behind the cryptocurrency as concerning.

Banga also revealed that Mastercard has a significant patent library relating to CBDCs, which may help explain why he's so positive towards them.

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