MasterCard Launches Global Program for Helping Crypto Startups
A new, global program has been launched by payments giant MasterCard for cryptocurrency startups. Seven crypto companies have already signed up for this program. They will work with MasterCard together for expanding and accelerating innovation related to digital asset technology and this makes it easier and safer for institutions and people to buy, hold and spend digital assets and cryptocurrencies. On Tuesday, MasterCard announced this new Start Path global engagement program aimed at supporting fast-growing digital assets, crypto companies, and blockchain. As mentioned earlier, the program has already welcome seven startups and they will be working with Mastercard.
The names of these startups include Supraoracles, Stacs, Mintable, and GK8. A blockchain oracle, Supraoracles is based in Switzerland, whereas Stacks, which is located in Singapore, offers a blockchain infrastructure to the overall financial industry. Mintable is also based in Singapore and it is a marketplace for non-fungible tokens (NFTs), which appear to be gaining a lot of popularity nowadays. GK8, on the other hand, is located in Israel, and this is an end-to-end self-managed institutional crypto platform. The other companies that are also part of the program include Taurus, Domain Money, and Uphold.
Based in Switzerland, Taurus helps in managing crypto assets by providing enterprise-grade infrastructure. These include crypto assets, tokenized assets covering trading, asset servicing, custody, and issuance, along with digital currencies. Located in the USA, Uphold is a crypto payment and investment service provider for businesses and consumers. Domain Money is also based in the United States and it is looking to develop an investment platform for bridging the gap between traditional finance and digital assets for retail investors. More than 250 startups have benefitted from the Start Path program since 2014, as per the announcement. Crypto startups can now use the program for accessing the latest solutions and tools of MasterCard.
This can be immensely helpful for these companies when it comes to scaling cutting-edge technologies and innovations. According to MasterCard, the startups are able to use the program for connecting to the company’s ecosystem of banks, partners, merchants, and digital players all around the world for delivering new solutions to their clients. New Digital Infrastructure and Fintech’s executive vice president, Jess Turner said that since 2015, MasterCard has been engaging with the global digital currency ecosystem. She said that since they are a leading technology player and can play an important role in digital assets for shaping the industry and providing security and consumer protection.
She said that forging the future of cryptocurrency was also part of their role and they would accomplish it by bridging digital assets innovations with mainstream financial principles. As per an announcement by MasterCard last week, the company is enhancing its card program for crypto exchanges and wallets with the goal of making it easier and simpler for partners to convert their digital currency into traditional fiat currency. The move of the payments provider indicates just how much influence the crypto industry appears to be gaining in the financial world.