Zephyrnet Logo

Mastercard Announces Global Program for Crypto Startups

Date:

Table of Contents

Rate this post

Mastercard Inc. has announced a new global program for cryptocurrency startups aimed at accelerating innovation and adoption of digital assets. 

The payments giant said on Tuesday that seven startups have already joined the award-winning Start Path program that provides access to “partnership opportunities, insights, and tools.” Introduced in 2014, the initiative has extended support to more than 250 companies to date.

Mastercard Launches Start Path Global Program for Crypto Startups

The company’s latest program intends to make it safer for institutions and people to purchase and hold digital assets and cryptocurrencies. As of now, seven participants have joined the initiative, including Singapore-based NFT marketplace Mintable, crypto custody platform GK8, and digital assets infrastructure provider Taurus.

Meanwhile, other companies joining the program are US-based investment platform Domain Money, Swiss blockchain oracle SupraOracles, Singapore-based fintech firm STACS, and American digital money platform Uphold.

Together with Mastercard, these companies will try and address various issues pertaining to data accuracy and security, asset tokenization, and seamless transition from traditional finance to the digital economy.

Speaking on the newest development,  Mastercard’s vice president of New Digital Infrastructure and Fintech, Jess Turner noted, “As a leading technology player, we believe we can play a key role in digital assets, helping to shape the industry and provide consumer protection and security. Part of our role is to forge the future of cryptocurrency, and we’re doing that by bridging mainstream financial principles with digital assets innovations.”

Mastercard’s Expansion in the Digital Payments Sector

The fintech giant continues to evolve its catalog in accordance with the latest shifts in the digital payments sector. Predictably, this involves the adoption of crypto-related services that are gaining major traction in the industry. Just recently, the company decided to upgrade its crypto card program in partnership with banking institutions to offer digit asset transactions. According to an announcement, the company’s revised card program leverages Circle’s dollar-pegged stable currency USD Coin (USDC) for smooth conversion of cryptocurrency to fiat money.

Like its rival Visa, Mastercard is exploring the use of existing payments infrastructure in the crypto space. 

Earlier this year, the payments company inked a deal with crypto exchange Gemini to introduce Bitcoin rewards on credit card purchases. Mastercard is also looking into supporting crypto payments on its network in late 2021.

READ  Bitcoin Payment App BitPay Adds Apple Pay Support

#Crypto Payment News #Mastercard #Mastercard Cryptocurrency

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.cryptoknowmics.com/news/mastercard-announces-global-program-for-crypto-startups

spot_img

Latest Intelligence

spot_img