Mastercard is one of the largest international payment platforms. However, it is still in support of cryptocurrency. As a segment of the fintech accelerator initiative, which is called the Mastercard Start Path program, he continuously adds new cryptocurrency and blockchain startups. As per the announcement done by the firm on November 3, the company has added 7 industry startups to its Start Path program. The main motive is to support the acceptance of crypto and blockchain globally. Among these seven startups are Fasset, Digital Treasures Center from Singapore, Stable, a stablecoin platform in Colombia, etc.
Before this addition, Mastercard had already been associated with Fasset in July, where they were working on building digital solutions to increase the financial inclusion of Indonesia. The new Mastercard Start Path program comprises Web3 based social payment system, including Loot Bolt, Take Back the Mic Quadrata, and Uptop.
As per the announcement, these 7 companies will work to decrease the gap between Web2 and Web3. This program, Mastercard, was started in 2014. It is 6 months accelerator program that aids startups to develop and make a profit on the products and services provided by them. Till now, 350 startups have been a part of this program. This program is a milestone for new ventures and startups in the crypto industry, especially when the industry is not doing too well. Some of the firms supported by Mastercard, which turned into unicorn level, are Zeta, Razorpay, Thought Machine, etc.
With its new addition, till now 25 crypto startups have become a part of this program. This also comprises names like Uphold, GK8, Ava Labs, etc. Furthermore, just this October, Mastercard also started a new initiative that supported banks to integrate services like crypto trading capabilities for their customers. This initiative was taken in partnership with Paxos.
