MasterCard Launches ‘Next Generation’ Blockchain Payment Startup Program
Fintech giant MasterCard announced on May 15 that it has added five new startups to its Start Path Blockchain and Digital Assets program.
The Start Path Blockchain and Digital Assets program is a fintech accelerator program that focuses on “exploring future use cases to scale new solutions with startups around the world”.
Joining the program are crypto payment and card issuer Kulipa, blockchain software firm Paraffin, decentralized physical infrastructure network (DePin) firm peaq, data platform Triangle and blockchain developer Venly.
In a press release, MasterCard explained that this leg of the program will focus on use cases and testing to attack specific issues.
“Each currency format – from controlled funds to bank deposits, stablecoins and CBDCs – serves a specific purpose, and MasterCard works with industry experts and fintechs to explore unique use cases that help solve real-world problems.”
In a press release from Mastercard, the program refers only to “high-potential blockchain, digital assets and Web3 startups.” Those companies have chosen “the opportunity to cooperate, training and Mastercard customers and channels” in the four-month program.
In the year Launched in 2014, Start Path is said to have supported more than 400 startups in 54 countries. With such programs, MasterCard continues to be at the forefront of fintech and blockchain payment platforms.
As Cointelegraph recently reported on May 14, MasterCard Labs has partnered with Israeli fintech company Kima to create a “DeFi Credit Card”. While not clear, the big idea seems to be the ability to apply for a line of credit for decentralized financial protocols.
On May 8, MasterCard announced an alliance with US banking giants including Citigroup, Visa and JP Morgan to test distributed ledger technology for tokenization of bank settlements.
In April, MasterCard and 1inch introduced a debit card with crypto-to-fiat bridge functionality, allowing users to withdraw cash and make point-of-sale payments at locations where debit cards are accepted.
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