Mastercard Blockchain Program Opening New Doors For Startups

Mastercard Program Enhancing Startups Through Blockchain Technology

Mastercard is a company that provides financial and technological services. Recently, the company has started a program called Start Path Blockchain and Digital Assets. Mastercard company helps new startups enhance their new business in the field of Blockchain Technology and Digital Assets. 

On 15 May 2024, Mastercard announced the five new startups to be added to the start path of their Blockchain Technology and Digital Assets. The company will try various technologies on these five startups covering everything from Blockchain to Web3. The Start Path Blockchain and Digital Assets will help these startups explore and expand the scale toward new solutions, focusing on accelerating the program. 

In 2014, the Start Path program at Mastercard aided entrepreneurs in more than 400 startups, and more than 54 countries globally as per the reports. Among the domains of fintech and blockchain-based payments, Mastercard is present as an important character within them, by doing things like that.

On 14 May 2024, An Israeli fintech company, Kima collaborated with the US multinational Mastercard and unveiled the plan to create the world's first-ever "DeFi credit card. " Despite the lack of clarity about its definition, the concept aims to combine the credit line request and the DeFi protocols. Thus, providing the users with multiple financial options.

On 8th May 2024, Mastercard entered into a partnership with the four major banks in US, they are J. P. Morgan Chase, Citigroup, and Visa. They cooperated in research aimed at finding out the possibility of distributed ledger technology (DLT) amidst cross-border transactions between trading partners to quicken banking settlements using tokenization.

In April, MasterCard and 1inch aligned to create a unique debit card that enables it to invest in cryptocurrencies easily. For the owners of cryptocurrencies, this performs the function of a debit card where it becomes very easy for them to exchange their virtual assets for actual money to make physical purchases at retail stores and fruitfully withdraw their cash at points where standard debit cards are accepted.

Highlights by Mastercard in a Press Release

Mastercard highlighted in the press release the tricks and trials to point out specific issues and cases that focus on the program. The pointed facts that Mastercard highlighted are that they are performing on each currency format whereas they are looking to regulate their money through different platforms like bank deposits, stablecoins, and CBDCs for working on specific purposes. 

Mastercard is trying to connect with many different platforms and companies to explore a variety of different use cases with industry experts and financial technologies that can assist in unfolding some real-world problems.

Every press release of Mastercard considers high-potential Blockchain, Digital Assets, and Web3 startups for their program. The firms that are selected get the opportunity to collaborate with Mastercard’s customers and channels during a 4-month program.

These five startups are as follows: 

The startups joining the start path blockchain technology and digital assets program are Kulipa, Parafin, Peaq, Triangle, and Venly. 

Kulipa deals with crypto payments and serves in making cards using crypto money where as Parafin is the blockchain software firm for blockchain technology. The other one is Peaq, which works on a Decentralized physical infrastructure network and helps in building a physical network with the use of Blockchain Technology. Triangle is a platform for handling data and the last startup is Venly which develops Blockchain Technology.

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