As a seasoned crypto investor, I’m always on the lookout for significant developments that could potentially impact the space. Mastercard’s recent announcement of adding five new startups to its Start Path Blockchain and Digital Assets program is a noteworthy development that has piqued my interest.
As a crypto investor, I’m excited to share that on May 15th, Mastercard, a leading fintech company, welcomed five fresh startups into their prestigious Start Path Blockchain and Digital Assets program. These innovative companies will have the unique opportunity to collaborate with Mastercard and explore the potential of blockchain technology and digital assets within the payments industry.
The Start Path Blockchain and Digital Assets program functions as a fintech accelerator, concentrating on discovering innovative applications for blockchain technology and digital assets, and collaborating with startups globally to develop and expand these solutions.
Kulipa, a crypto payment and card issuer, as well as Parafin, a blockchain software company, peaq, a decentralized physical infrastructure network firm, Triangle, a data platform, and Venly, a blockchain development team, have all signed up for the program.
In a press announcement, Mastercard emphasized that the next phase of their initiative would center on exploring applications and experiments to tackle particular challenges.
“Each currency format – from regulated money to bank deposits, to stablecoins and CBDCs – serves a specific purpose, and Mastercard is connecting with industry experts and fintechs to explore differentiated use cases that can help to solve real-world problems.”
In a recent press release, Mastercard announced that they are only considering high-potential blockchain, digital asset, and Web3 startups for their program. If your firm is fortunate enough to be chosen, you’ll gain the invaluable opportunity for collaboration, bespoke training, and access to Mastercard’s vast customer base and channels throughout a four-month period.
As a researcher investigating the role of Mastercard in the fintech and blockchain payments sector, I’ve discovered that since its inception in 2014, Start Path – one of Mastercard’s initiatives – has reportedly assisted over 400 startups in 54 countries. Through this program, Mastercard has been strategically positioning itself as a key player in the industry.
According to a recent report by CryptoMoon on May 14th, Mastercard’s research lab has teamed up with Israeli fintech company Kima to create what’s being called a “DeFi credit card.” The essence of this collaboration appears to be combining the principles of decentralized finance (DeFi) with the option to apply for a line of credit.
On May 8, Mastercard unveiled a partnership with major American banking institutions such as Citigroup, Visa, and JP Morgan, aimed at exploring the application of distributed ledger technology in banking transactions through tokenization.
In April, Mastercard and 1inch introduced a new debit card featuring the ability to convert cryptocurrencies into fiat currency on the spot. This innovation enables users of cryptocurrencies to make withdrawals from ATMs and complete transactions at merchants that accept debit cards.
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2024-05-16 00:09