Mastercard has detailed its latest findings on non-fungible tokens (NFTs) after participating in Australia’s central bank digital currency (CBDC) pilot project.

“This opens up new opportunities for collaboration between public and private networks to make a real impact in the digital currency space,” the statement outlined.

Mastercard claims that it has discovered new capabilities that would allow CBDC to be tokenized on different blockchains. The payments giant believes this, in turn, shows the potential for NFTs to increase adoption and enhance security:

“It has successfully demonstrated the ability of a new solution to enable CBDC to be tokenized (or “wrapped”) onto a different blockchain, providing consumers with a new option to Participate in commerce on multiple blockchains with greater security and convenience.”

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