Mastercard President Michael Miebach believes that his company’s massive acquisition of crypto patents will become beneficial when the central bank digital currencies arrive.
Mastercard President Michael Miebach has opined that his company’s massive acquisition of crypto patents will become beneficial once the central bank digital currencies arrive. He said the intellectual property the payment giant has acquired would help put the company in a good position, as the world anticipates the rise of CBDCs in the financial sector. Miebach said a CBDC requires a link for an acceptance network or framework, and the global payment firm is well-positioned to provide such a link.
Mastercard has intellectual property on some crypto assets and products that link crypto-based transactions right into its network where they can be used. According to Miebach, the payment firm brings value through this means. Mastercard president claimed that the payment processor giant is the “leading payments player” for crypto IP. Although his claim may be right for now, a tougher challenger is coming up to take off that position from the company. China-based trade ecommerce giant Alibaba is gearing up to become the highest holder of blockchain patents before the end of the year, with many deals currently taking place.