CEO Mastercard: "Bitcoin will not help expand access to financial services"

MasterCard CEO Aja Banga said, that bitcoin due to its volatility cannot function as a currency for people, not having access to banking services.

As reported
Fortune, Alaijay Kangga (Ajay banga) expressed his thoughts at the Fortune Global Forum conference. He noted the lack of information about that, who is behind the cryptocurrency.

“I am concerned about volatility [bitcoin] and the lack of transparency regarding that, Who is behind this currency. That's why we believe in the digital currencies of central banks ".

Banga said, that MasterCard has a significant library with respect to state cryptocurrencies. This can explain, Why is he so positive about them. CEO of MasterCard said, that bitcoin cannot become a currency for people, deprived of access to the banking system.

“Can you imagine, that such a person will agree to get into the financial system, where today cryptocurrency is like two Coca-Cola bottles, And tomorrow - like twenty -one? This is not a way to include people in the financial system, And a way to make them be afraid of her ".

Banga counts, what, If fiat currencies have become digital, They would help with international foreign trade flows ". However, he added, that "the availability of financial services for individuals – This is a completely different matter ". The general director confirmed, that MasterCard “invested a significant amount of money” in the development of state cryptocurrencies:

“Today MasterCard – One of the largest patents holders in the area of ​​digital currencies of the Central Bank ".

Last month, MasterCard introduced
Platform for testing digital currencies of central banks. Banga said, that this platform allows central banks and commercial banks to jointly explore state cryptocurrencies for “flows of cross -border transactions”. The tool imitates various types of transactional media, Allowing central banks to evaluate the options for using digital currency.