On May 15, fintech giant Mastercard announced the addition of five new startups in its Start Path Blockchain and Digital Assets program. This accelerator program is designed to explore future use cases and scale new solutions with startups globally.
The latest participants include crypto payment and card issuer Kulipa, blockchain software firm Parafin, decentralised physical infrastructure network peaq, data platform Triangle, and blockchain developer Venly.
Mastercard’s press release emphasises that this segment of the program will focus on specific use cases and trials to address particular challenges.
“Each currency format – from regulated money to bank deposits, to stablecoins and CBDCs – serves a specific purpose, and Mastercard is connecting with industry experts and fintechs to explore differentiated use cases that can help to solve real-world problems.”
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The program targets high-potential blockchain, digital assets, and Web3 startups, offering them opportunities for collaboration, tailored training, and access to Mastercard’s customers and channels over a four-month period.
Since its inception in 2014, Start Path has supported over 400 startups across 54 countries, helping Mastercard position itself as a leader in the fintech and blockchain payments space.
Additionally, as reported by Cointelegraph on May 14, Mastercard Lab has partnered with Israeli fintech firm Kima to develop a “DeFi credit card,” blending decentralised finance protocols with traditional credit lines.
On May 8, Mastercard also formed an alliance with U.S. banking giants Citigroup, Visa, and JP Morgan to test distributed ledger technology for banking settlements using tokenization. Furthermore, in April, Mastercard and 1inch launched a debit card that allows cryptocurrency users to make cash withdrawals and point-of-sale payments where debit cards are accepted.