Mastercard Bolsters Fintech Accelerator with Five More Startups, Reinforcing Its Leadership in Financial Technology
Summary:
Mastercard has incorporated five startups into its Start Path Blockchain and Digital Assets program, an initiative aimed at advancing financial technology. The selected startups, including crypto payment provider Kulipa and blockchain company Parafin, will benefit from collaboration opportunities and specialized training. Mastercard's program, which supports high-potential blockchain, digital assets, and Web3 startups, has helped over 400 startups worldwide since 2014 and continues to solidify Mastercard's position in the fintech industry.
On May 15, Mastercard, a leading player in financial technology, revealed that five additional startups have been integrated into its Start Path Blockchain and Digital Assets initiative. The program, which is an accelerator for fintech companies, primarily investigates prospective applications for refining solutions alongside global startups. The new entrants include Kulipa, a crypto payment and card provider; blockchain-based software company Parafin, infrastructure firm peaq, data-oriented Triangle, and Venly, a blockchain creator.
Through a press release, the company emphasized that this phase of the program prioritizes utilizations and experiments tailored to address specific problems. Mastercard is liaising with experts and fintech companies to explore unique applications capable of offering real-world solutions, embracing a range of currency formats from government-regulated cash to bank deposits, stablecoins, and CBDCs.
According to additional information from the press release, only the startups demonstrating high potential in blockchain, digital assets, and Web3 content are considered for participation. The chosen startups receive the advantage of collaboration and tailor-made training, as well as access to Mastercard's consumers and channels during the program's four-month duration.
Since its inception in 2014, the Start Path Initiative has claimed to have aided over 400 startups across 54 nations. With this strategy, Mastercard continues to secure its position at the forefront of the fintech and blockchain payments industry.
In related news reported by Cointelegraph on May 14, Kima, an Israeli fintech firm, has seen a joint venture with Mastercard Lab to create a decentralized finance (DeFi) credit card. The primary aspiration is to combine DeFi protocols with the option of applying for credits. On May 8, Mastercard forged alliance with leading U.S. banks including Citigroup, Visa, and JP Morgan. This alliance aims to test banking settlements using tokenization, which is a distributed ledger technology. In April, Mastercard and 1inch released a debit card with cryptocurrency-to-fiat bridge functionality enabling cryptocurrency holders to withdraw cash and make POS payments where debit cards are acceptable. Meanwhile, Vanguard has appointed a new CEO who is open to Bitcoin, previously an exec at BlackRock.
Published At
5/16/2024 12:00:00 AM
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