On May 15, the fintech leader Mastercard revealed the inclusion of five new startups in its Start Path Blockchain and Digital Assets program.
This program serves as a fintech accelerator, aimed at exploring potential future applications and scaling new solutions with startups globally.
The newly added participants include Kulipa, a crypto payment and card issuer, Parafin, a blockchain software company, peaq, a decentralized physical infrastructure network (DePin) firm, Triangle, a data platform, and Venly, a blockchain developer.
According to Mastercard’s press release, this phase of the program will concentrate on trialing various use cases to address specific challenges:
“Mastercard is collaborating with industry experts and fintechs to explore unique use cases tailored to address real-world issues, spanning various currency formats – from regulated money to bank deposits, stablecoins, and CBDCs.”
Mastercard selects “high-potential blockchain, digital assets, and Web3 startups” for the program, offering them the chance to collaborate, receive customized training, and access Mastercard’s clientele and distribution channels over a four-month period.
Since its launch in 2014, Start Path has reportedly assisted over 400 startups across 54 countries. Through initiatives like this, Mastercard has steadily solidified its position as a frontrunner in the realm of fintech and blockchain-based payments.
Additionally, Mastercard Lab has partnered with Israeli fintech company Kima to develop a “DeFi credit card,” aiming to integrate decentralized finance protocols with credit application processes.
Moreover, on May 8, Mastercard revealed a collaboration with major U.S. banking institutions like Citigroup, Visa, and JP Morgan to explore distributed ledger technology for banking settlements utilizing tokenization.
In April, Mastercard and 1inch introduced a debit card featuring cryptocurrency-to-fiat bridge functionality, enabling cryptocurrency users to conduct cash withdrawals and point-of-sale transactions at locations accepting debit cards.
May 2024, Cryptoniteuae
