Cryptocurrencies

Fintech giant MasterCard has announced the addition of five startups

Fintech giant Mastercard on May 15 announced the addition of five new startups to its StartPath Blockchain and Digital Assets program.

Start Path Blockchain and Digital Assets is a fintech accelerator program focused on “exploring future use cases to scale new solutions with startups around the world.”

Joining the project are cryptocurrency payments and card issuer Kulipa, blockchain software company Parafin, decentralized physical infrastructure network (DePin) company Peaq, data platform Triangle and blockchain developer Venly.

In a press release, Mastercard emphasized that this part of the program will focus on use cases and experiments to attack specific problems;

“Each currency format, from regulated money to bank deposits, stablecoins and central bank digital currencies, serves a specific purpose, and Mastercard is reaching out to industry and fintech experts to explore different use cases that can help solve real-world problems.”

source. @Venly_io: on X

According to Mastercard’s press release, it is only considering “high-potential blockchain, digital asset and Web3 startups” for the program. These selected companies receive “opportunity to collaborate, tailored training and access to Mastercard’s customers and channels” during the four-month program.

Launched in 2014, Start Path claims to support over 400 startups in 54 countries. Through programs like these, Mastercard has been able to steadily make its way to the forefront of the fintech and blockchain payments community.

As recently reported by Cointelegraph on May 14th, MasterCard Lab has partnered with Israeli fintech company Kima to develop a “deFi credit card”. Although not clearly stated, the big idea seems to be the marriage of DeFi protocols with the ability to apply for a line of credit.

On May 8, Mastercard announced an alliance with US banking giants including Citigroup, Visa and JP Morgan to test distributed ledger technology for bank settlements using tokens.

In April, Mastercard and 1inch introduced a debit card with a cryptocurrency-to-fiat currency bridging feature that allows cryptocurrency users to withdraw cash and make payments at locations where debit cards are accepted.

Related to: Vanguard Hires Ex-Bitcoin-Friendly BlackRock CEO As New CEO

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