Mastercard has announced a startup engagement program called Start Path to support companies in the cryptocurrency and blockchain space.
The program will give the start-ups opportunities and tools to grow
The payments giant has selected seven startups from around the world for the program. Which will give them access to partnership opportunities and tools to grow. Most notably, this includes early-stage technical and financial support. Participants include Singapore-based NFT marketplace Mintable, Israeli crypto custody platform GK8, and U.S. native next-generation investment platform Domain Money. Others on the list are Uphold, SupraOracle, Taurus, and STACS.
All these start-ups have been chosen because, according to Mastercard, they focus on specific pain points, including “asset tokenization, data accuracy, digital security and seamless access between the traditional and digital economy.” Mastercard will help companies in the program develop products and services that serve both the existing crypto space and traditional banking customers.
Mastercard has been actively engaging with blockchain technology
It’s not the first time Mastercard has bet on cryptocurrency and blockchain technology. The company has actively supported the industry in recent years. In April, it made a significant investment in an Ethereum technology company, ConsenSys.
It plans to enable crypto payments for its card by the end of the year. This month began a partnership with Circle to process USDC payments. It also started working with Evolve Bank & Trust and Paxos Trust Company, the top blockchain infrastructure and regulated stablecoin issuance platform.