Fintech giant Mastercard announced on May 15 that it has added five new startups to its Start Path blockchain and digital asset program.
The Start Path Blockchain and Digital Asset Program is a fintech accelerator program focused on “exploring future use cases to scale new solutions with startups around the world.”
Participants in the program include cryptocurrency payment and card issuer Kulipa, blockchain software company Parafin, decentralized physical infrastructure network (DePin) company Peaq, data platform Triangle, and blockchain developer Venly.
In a press release, Mastercard emphasized that this part of the program will focus on use cases and testing to attack specific problems.
“From regulated currencies to bank deposits, stablecoins and CBDCs, each currency format serves a specific purpose, and Mastercard connects with industry experts and fintech companies to help solve real-world problems with differentiated uses. We are exploring cases.”
According to a press release from Mastercard, only “high-potential blockchain, digital asset and Web3 startups” will be considered for the program. Selected companies “gain opportunities for collaboration, customized training, and access to Mastercard customers and channels” during the four-month program.
Launched in 2014, Start Path has reportedly supported more than 400 startups across 54 countries. Through programs like this, Mastercard continues to move to the forefront of fintech and blockchain payment forums.
As Cointelegraph recently reported on May 14, Mastercard Lab partnered with Israeli fintech company Kima to develop a ‘DeFi credit card’. Although not explicitly stated, the big idea seems to be combining a decentralized finance protocol with the ability to apply for a credit limit.
On May 8, Mastercard announced a partnership with big US banks including Citigroup, Visa and JP Morgan to test distributed ledger technology for bank payments using tokenization.
Last April, Mastercard and 1inch unveiled a debit card with cryptocurrency-to-fiat connectivity that would allow cryptocurrency users to withdraw cash and make point-of-sale payments at locations where debit cards are accepted.
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