How Mastercard plans to connect stablecoins, CBDCs and tokenized bank deposits

Quick Take

  • Mastercard’s Raj Dhamodharan unpacks how the firm is positioning for a future in which value can be transferred between a variety of public and private tokenized assets including stablecoins, bank deposits and CBDCs.

Episode 76 of Season 5 of The Scoop was recorded with The Block's Frank Chaparro and Mastercard EVP of Blockchain/Digital Asset Products & Digital Partnerships Raj Dhamodharan.

Listen below, and subscribe to The Scoop on Youtube, AppleSpotifyGoogle PodcastsStitcher, or wherever you listen to podcasts. Please send feedback and revision requests to [email protected].

Mastercard EVP Raj Dhamodharan manages Mastercard's blockchain and digital asset strategy.

In this episode, Dhamodharan unpacks Mastercard's vision for a future in which value can be transferred seamlessly between public and private blockchains, and explains how CBDCs and tokenized bank deposits could revolutionize global payments. 


1:00 Mastercard's Multi Token Network

6:00 MTN Applications


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10:13 KYC & Crypto Credential

12:46 Public/Private Transactions

14:09 Tokenized Bank Deposits

21:20 The Multichain Future

24:25 Central Bank Digital Currencies

29:16 Closing Thoughts

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Authors

Davis Quinton is the Director of Podcasts at The Block and runs our flagship podcast called The Scoop, hosted by Frank Chaparro. Since joining The Block as an 'intern' in early 2022, he has worked closely with leaders across departments to translate The Block's written content into engaging multimedia formats. He holds a degree in Social Research & Public Policy from New York University in Abu Dhabi and is based in Sydney, Australia.
Frank Chaparro is the Editor At Large at The Block. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. He runs his own podcast The Scoop and writes a biweekly eponymous newsletter. He leads special projects, including The Block's flagship podcast, The Scoop. Prior to The Block, he held roles at Business Insider, NPR, and Nasdaq. For inquiries or tips, email [email protected].


To contact the editor of this story:
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