Mastercard Supports Growth of Blockchain Payments Startups

Mastercard announced the launch of a program for startups aimed at developing blockchain payments and Web3 technologies. Participating in the accelerator and developing innovative solutions for global financial markets is now open to proven crypto startups.

Financial giant Mastercard announced the launch of Start Path Blockchain & Digital Asset, a program to support startups in the cryptocurrency market. The initiative’s main goal is to research and develop options for using blockchain and digital assets in payments.

The program is to create and test various payment services based on blockchain to solve specific problems in the financial sector. Mastercard representatives said that within the accelerator, the company aims not only to support promising and innovative FinTech companies but also to expand opportunities to explore the potential of all types of digital currencies, from tokenized bank deposits and stablecoins to central bank digital currencies (CBDC).

The accelerator’s program is designed for four months. During this time, the selected startups will have the opportunity to work closely with Mastercard, receive personalized training, and access the company’s customer base and payment channels. Proven startups working with digital assets, crypto payments, scalable blockchain solutions, NFTs, etc., can apply for the program.

According to Mastercard, the first startups that already joined the program are:

• Ava Labs, a developer of the Avalanche blockchain;
• Axelar, a scalable cross-chain communication platform;
• Mintable, an NFT marketplace;
• Cenoa, a non-custodial crypto wallet;
• Cross Mint, an NFT miner;
• Uphold, a U.K.-based crypto exchange.

New members of Start Path Blockchain & Digital Asset for the next four months are:

• Kulipa, a French crypto payment card company;
• Parafin, a U.K.-based blockchain software developer for financial institutions;
• peaq, an L1 blockchain network for RWAs;
• Triangle, a U.S. blockchain platform that captures and correlates financial and climate data in the context of sustainability practices;
• Venly, a Belgian blockchain developer.

The next round of the accelerator will start in October 2024, and applications can be submitted by filling out the appropriate form by August 5.

The Start Path startup support program was launched in 2014, but initially, only TradFi members could participate. For the ten years of the accelerator’s existence, Mastercard supported the development of over 400 startups from 54 countries.

Mastercard actively introduces innovations in financial technologies and digital payments, working closely with such FinTech companies as Kima, 1inch, MoonPay, Stables, Immersve, Binance, Paxo, and others.

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