Payment giant Mastercard has launched a new global program for cryptocurrency startups. Seven crypto companies have already joined the program. Together with Mastercard, they will work on “expanding and accelerating innovations in digital asset technology and making it safer and easier for people and institutions to buy, spend and hold cryptocurrencies and digital assets”.
The new crypto program from Mastercard
- Mastercard announced on Tuesday “a new Start Path global startup engagement program to support fast-growing digital assets, blockchain and cryptocurrency companies.”
- Seven startups have already joined the program. They will partner with Mastercard “to expand and accelerate innovation in digital asset technology and make it safer and easier for people and institutions to buy, spend and hold cryptocurrencies and digital assets,” the announcement reads.
- Startups include GK8, Mintable, Stacs and Supraoracles. GK8 (Israel) is a self-managed end-to-end institutional crypto custody platform. Mintable (Singapore) is a non-fungible token (NFT) marketplace, Stacs (Singapore) offers a blockchain infrastructure for the financial industry and Supraoracles (Switzerland) is a blockchain oracle.
- The other companies that have joined the program are Taurus, Uphold, and Domain Money. Taurus (Switzerland) offers enterprise-class infrastructure for managing all digital assets, including crypto assets, digital currencies and tokenized assets, covering issuance, custody, asset servicing and trading. Uphold (USA) is a consumer and corporate crypto investment and payment service provider, and Domain Money (USA) aims to build an investment platform to bridge the gap between digital assets and traditional financing for retail investors.
- The Start Path program has helped more than 250 startups since 2014, the announcement said. The program now gives crypto startups access to “the latest Mastercard tools and solutions to help these companies scale their innovations and cutting-edge technologies”.
- Mastercard stated, “These startups are using the program to connect with our ecosystem of banks, retailers, partners and digital players around the world to provide new solutions.”
- Jess Turner, Executive Vice President of New Digital Infrastructure and Fintech, commented, “Mastercard has been dealing with the digital currency ecosystem since 2015” and states:
As a leading technology provider, we believe that we can play a key role in digital assets, shaping the industry and providing consumer protection and security. Part of our role is to shape the future of cryptocurrency, and we do it by combining common financial principles with innovations for digital assets.
- Last week Mastercard announced an expansion of its card program for cryptocurrency wallets and exchanges with the aim of “making it easier for partners to convert cryptocurrency to traditional fiat currency”.
What do you think of Mastercard’s new program for crypto startups? Let us know in the comment section below.
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