MasterCard Introduces A New Program to Support Crypto and Blockchain Startups

28. Jul 2021 Posted by Akolkar B on News

On Tuesday, July 27, American multinational Mastercard announced "a new Start Path global startup engagement program dedicated to supporting fast-growing digital assets, blockchain and cryptocurrency companies."

Michael Miebachs said MasterCard's principal values consist of supporting the startup domains. So far, approximately more than 250 startups have participated in the Start Path program since its initiation in 2014. Mastercard provides access to its most advanced tools and solutions to promote these companies which helps them scale their innovations with cutting-edge technology. 

Jess Turner, executive vice president of New Digital Infrastructure and Fintech, said, "As a leading technology player, we believe we can play a key role in digital assets, helping to shape the industry, and provide consumer protections 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."

The payment giant said, "These startups use the program to connect with our ecosystem of banks, merchants, partners and digital players across the globe to deliver new solutions."

Typically a succession of Mastercard's digital assets works, seven startups have participated in the program, seeking to "expand and accelerate innovation around digital asset technology and make it safer and easier for people and institutions to buy, spend and hold cryptocurrencies and digital assets."

The seven companies which have participated are GK8(Israel), Domain Money, and Uphold from the USA, along with Mintable and STACS from Singapore, SupraOracles, and Taurus from Switzerland.

  • GK8 platform can create, sign, and send secure blockchain transactions without internet inputs and eliminate any potential cyberattack vectors.
     
  • Domain Money is developing a new-gen investment platform, spanning the gap between digital assets and traditional finance for retail investors.
     
  • Uphold's unique 'Anything-to-Anything' trading practice enables clients to trade directly between asset classes with embedded payments. They are promoting a future where everyone has access to financial services.
     
  • Mintable allows users to create, buy and sell digital and physical assets backed by the blockchain. It is packed with innovative features and empowers people to get involved with a non-fungible token without former knowledge in crypto or coding.
     
  • STACS provides blockchain infrastructure for the financial industry to unlock huge value and enable effective sustainable financing.
     
  • SupraOracles helps bridge real-world data to both public and private chains aiding to simplify and secure the future of financial markets.
     
  • Taurus provides a high-end infrastructure to manage any digital asset with one platform, including crypto assets, digital currencies, and tokenized assets covering issuance, custody, asset servicing, and trading.
     

These new participating companies in the Start Path program strive to address various vulnerable points, including asset tokenization, data accuracy, digital security, and flawless access between the traditional and digital economy.

Every startup is concentrated on resolving a unique industry hurdle and, during the program, will utilize Mastercard's expertise to aid the sustained growth and advancement of their solutions.