Mastercard Adds More Startups To Start Path Initiative
Mastercard has welcomed seven more startup firms to its Start Path program, a fintech accelerator initiative. Among the latest startups to join the Start Path program are Fasse, a cryptocurrency gateway provider. Singapore’s Digital Treasures Center also joined the program.
Mastercard, the global payment giant, has continued its unwavering support for blockchain and crypto startups. Recently, the payment firm announced it had selected seven more startups.
These startups will join the company’s Start Path initiative. The program aims to increase the adoption of blockchain and crypto adoption.
The new list of startup firms includes Fasset, a cryptocurrency gateway provider. Digital Treasures Center, Singapore’s cryptocurrency payment platform, and Stable, a Colombian stablecoin-driven company.
Earlier in July, Mastercard collaborated with Fasset on a joint digital solution. The digital solution aims to bring financial inclusion to Indonesia.
The recent program also has Loot Bolt, a Web3-based social payment system provider, Uptop, and Take Back the Mic. Per multiple reports, the selected firms will have one main goal.
The goal is to close the gap between Web3 and Web2. Mastercard said the new startups would develop communities for digital creators. They will also teach individuals how to use Web3 technologies.
Mastercard launched its Start Path initiative in 2014, a six months crypto accelerator initiative. It helps startup firms expand and commercialize their services and products.
Furthermore, Mastercard has backed over 350 businesses so far, with several of them becoming big firms. Some are Thought Machine, a banking company, Razorpay, and Zeta, an Indian fintech firm.
Mastercard’s Exploits In The Crypto Space
Last year, Mastercard created a crypto division for its accelerator program, Start Path Crypto. Meanwhile, Mastercard established the initiative to support seed, Series A, and B startups that are crypto and blockchain-driven.
Mastercard’s support program lasts for three months. After the newest addition, the program houses over 25 crypto-based startups, such as the digital wallet Uphold.
Meanwhile, this news comes as Mastercard continues to strengthen its crypto and blockchain expertise. The payment giant has launched several crypto products and formed partnerships.
Last month, Mastercard introduced a new initiative for banks in partnership with Paxos. The initiative enables banks to provide their users with crypto trading services and functions.
Also, it partnered with Coinbase recently. The partnership allowed NFT users on Coinbase to buy digital collectibles using their Mastercard.
Furthermore, Mastercard unveiled a new service last month, Crypto Secure. This service relates to risk management in the crypto industry. It allows banks to detect and stop fraud on cryptocurrency merchant platforms.
Crypto Secure uses blockchain data, artificial intelligence, and records of cryptocurrency transactions to detect crime-related risks on the Mastercard network. Meanwhile, the payment firm already has a similar service for fiat transactions.
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