Mastercard Onboards 7 Startups to its Start Path Program
- GK8, Domain Money, Mintable, SupraOracles, STACS, Taurus, and Uphold have joined Mastercard’s new Start Path program.
- The startups will leverage Mastercard’s tools and network to address various pain points in the crypto and blockchain industries.
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In a press release published on 27 July, Mastercard announced the launch of a new Start Path global startup engagement program dedicated to supporting growing crypto and blockchain companies. Since 2014, more than 250 companies have participated in the program, which has recently been extended to include blockchain and crypto startups.
The newest edition of the program has onboarded seven startups, including GK8, Domain Money, Mintable, SupraOracles, STACS, Taurus, and Uphold. Mastercard said it will work with the companies to accelerate innovation around digital asset technology and make it safer for retail customers and institutions.
All of the companies participating in the Start Path program will address various pain points identified in the industry, including asset tokenization, data accuracy, digital security, and connections between the traditional and digital economies.
“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,” said Jess Turner, the Executive Vice President of New Digital Infrastructure and Fintech at Mastercard. “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.”
- Currently in its beta launch phase in Brazil, the Binance Card will allow its holders to make payments and purchases using 13 supported cryptocurrencies.
- Brazil has become the second country in Latin America to receive the product, following a similar announcement in Argentina in August 2022.
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- The new program will see MasterCard act as a “bridge” between Paxos and financial institutions, allowing them to offer crypto trading services to their clients.
- The payments giant will also assist institutions with regulatory compliance and security, two reasons banks cite for avoiding the asset class.
- MasterCard’s Crypto Secure software will make use of AI, on-chain data, and other sources to determine the crime risks of crypto exchanges within its network.
- It will not only improve security, but also help MasterCard’s partners stay compliant with local regulations when fighting crypto fraud.