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Here’s How Mastercard Plans To Boost Crypto and Blockchain Adoption

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VOC, Voice of Crypto, Mastercard

Key Insights:

  • Mastercard’s Start Path Program adds seven blockchain startups to its latest cohort.
  • The accelerator program helps to promote the adoption of crypto and blockchain technology.
  • This accelerator program has so far supported 25 blockchain startups.

In 2014, Mastercard launched its “Start Path Accelerator Program.” The program has since helped about 350 startups to expand and commercialize their products & services.

Many of these startups have benefited from the six-month-long Start Path Accelerator Program and have achieved Unicorn status. They include Thought Machine, India’s Zeta, and Razorpay.

In 2021, they expanded the Accelerator program to include a dedicated crypto division. The division was named “Start Path Crypto.”

The Start Path Crypto program was launched to support seed, series A, and series B startups. Naturally, these startups must have been involved in crypto or blockchain development. Mastercard then offers them a three-month support program to upscale and expand.

Recently, the company added more blockchain startups to its Start Path Crypto Program.

Mastercard Supports 7 New Blockchain Startups

Lately, Mastercard announced the addition of seven industry startups to its accelerator program. It was done to promote the adoption of crypto and blockchain technology.

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The new startups chosen for the Accelerator program include Fasset, a crypto gateway provider, and Singapore’s Digital Treasures Center. Previously in July, Mastercard partnered with Fasset to work on digital solutions. The partnership seeks to drive financial inclusion in Indonesia.

Loot Bolt, a web3 social payments system provider, Quadrata privacy startup, and Uptop, a brand-oriented platform, are among the latest batch. Others include Project Take Back the Mic.

In the announcement, Mastercard said, “we are welcoming a new cohort of startups to ease access to digital assets.”  They added that the program will “ build communities for creators and empower people to innovate for the future through Web3 technologies.”

Since the Start Path Crypto Program launch, they have supported 25 cryptos and blockchain startups. The program has featured startups like Uphold, a digital wallet, and GK8, a crypto storage firm. Others include Emin Gun Sirer, the founder of Ava Labs, a blockchain developer.

Interestingly, besides this accelerator program, Mastercard has made some strides to strengthen its blockchain and crypto expertise.

In October, Mastercard launched a program to enable banks to offer crypto trading services. Mastercard partnered with Paxos to strengthen these banks’ capabilities for the crypto trading service.

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Similarly, Mastercard collaborated with Coinbase exchange to allow its NFT users to use the Mastercard for purchases.

Conclusion

Mastercard continues to distinguish itself as a giant industry player and stakeholder in the crypto & blockchain ecosystem. It has partnered with several tech platforms to ensure wider blockchain adoption.

Therefore, this Start Path Accelerator program will undoubtedly support more startups and enable them to achieve great heights.

 

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