The leading provider of global payments, Mastercard, continues to assist blockchain and cryptocurrency businesses as part of its fintech accelerator, the Mastercard Start Path programme.
In order to encourage the adoption of cryptocurrency and blockchain technologies, Mastercard has selected seven additional sector companies for its Start Path initiative, the company said on Nov 3rd. The new group of businesses includes the Colombian stablecoin-focused company Stable, the Singaporean crypto payments site Digital Treasures Center, and the crypto gateway provider Fasset. In July, Mastercard and Fasset collaborated on digital solutions to advance financial inclusion in Indonesia.
The most recent Mastercard Start Path initiative also includes the brand-focused platform Uptop, the blockchain-based media fintech project Take Back the Mic, the Web3-focused social payments system provider Loot Bolt, and the privacy firm Quadrata. According to the statement, one of the key objectives of the selected organisations will be to close the gap between Web2 and Web3. Mastercard stated, “We’re inviting a new generation of companies to simplify access to digital assets, foster creative communities, and enable individuals to innovate for the future through Web3 technology.
Mastercard Start Path is a six-month accelerator programme that was introduced in 2014 with the goal of assisting entrepreneurs in growing and commercialising their goods and services. More than 350 businesses have received support from Mastercard to date, many of which have attained unicorn status. Examples of such companies include banking service provider Thought Machine, Indian fintech startup Zeta, and Razorpay.
Start Path Crypto is a specialised crypto subsidiary of Mastercard Start Path that was introduced in 2021. The cryptocurrency accelerator was created to provide a three-month support programme for seed, Series A, and Series B entrepreneurs working on blockchain and cryptocurrency projects. With the most recent inclusion, there are now 25 cryptocurrency-related firms included in the Start Path Crypto programme, including the digital wallet Uphold, the cryptocurrency storage company GK8, and Emin Gün Sirer, CEO and founder of blockchain developer Ava Labs.
The most recent information comes as Mastercard continues to develop its blockchain and cryptocurrency knowledge. In conjunction with Paxos, Mastercard introduced a new programme in the middle of October that enables banks to provide their clients with cryptocurrency trading capabilities and services. In the past, Mastercard and the Coinbase exchange worked together to enable Coinbase NFT users to use Mastercard’s cards to make purchases.