- Mastercard announced a corporate business focused on supporting crypto startups.
- The international payment provider chose 7 startups to join the program.
Mastercard announced a corporate business focused on supporting blockchain and crypto startups.
During a press release on Tuesday, the international payment provider announced that it chose many startups to join its Start Path program focused on firms in the crypto space.
According to Mastercard, the program gives business opportunities, access to guidance. And many other things to help the startups succeed.
The company chose 7 startups to join the program. This includes Domain Money, GK8, Mintable, STACS, SupraOracles, Taurus, and Uphold. In addition, Mastercard said it will work with them to expand and accelerate innovation around digital asset technology. Also, to make it safer and easier for people and companies to buy, spend and hold digital assets.
The Mastercard team noted that they would focus on issues turning around the tokenization of assets. Moreover, they will focus on the accuracy of data and digital security. More so, the connection between the traditional and digital economy will also be a big part of the program.
Among the startups, a few is a non-fungible token (NFT) marketplace that supports the minting and sale of digital and physical assets.
Last year, Mastercard launched a central bank digital currencies (CBDCs) testing platform, which will let central banks explore the use of this asset class.
In addition, Mastercard and Island Pay launched a Bahamian prepaid card early this year. The card supports the local central bank digital currency (CBDC), the Sand Dollar. More so, the Sand Dollar became the first fully-established digital version of fiat currency in October 2020.