Fintech giant Mastercard announced that five new startups have joined its Start Path Blockchain and Digital Assets program. This initiative aims to explore future uses and scale new solutions with innovative startups worldwide.
The new additions to the program are Kulipa, a crypto payment and card issuer, Parfin, a blockchain software firm, peaq, a decentralized physical infrastructure network (DePin) company, Triangle, a data platform, and Venly, a blockchain developer.
Focus on Real-World Solutions
Mastercard highlighted that this phase of the program will focus on specific issues through use cases and trials.
“Each currency format – from regulated money to bank deposits, to stablecoins and CBDCs – serves a specific purpose,” Mastercard stated. The company is collaborating with industry experts and fintechs to explore various use cases that can help solve real-world problems.
Mastercard only considers “high-potential blockchain, digital assets, and Web3 startups” for the program. Selected firms will receive opportunities for collaboration, customized training, and access to Mastercard’s customers and channels during the four-month program.
Launched in 2014, Start Path has supported more than 400 startups in 54 countries. Through programs like this, Mastercard has become a leader in the fintech and blockchain payments space.
MasterCard’s Recent Collaborations
Recently, Mastercard Lab partnered with Israeli fintech firm Kima to develop a “DeFi credit card.” This card aims to combine decentralized finance protocols with traditional credit lines.
On May 8, Mastercard announced an alliance with U.S. banking giants, including Citigroup, Visa, and JP Morgan, to test distributed ledger technology for banking settlements using tokenization.
In April, Mastercard and 1inch introduced a debit card that allows cryptocurrency users to make cash withdrawals and point-of-sale payments where debit cards are accepted.
