Payment giant Mastercard has launched a Mastercard Accelerate program dedicated to cryptocurrencies called Start Path to support more companies in the crypto ecosystem.
Mastercard, one of the world’s leading payment processors, announced the launch of an Accelerate program focused on cryptocurrencies. The initiative, named Start Path, aims to help crypto startups by providing access to partnership opportunities and tools to scale their businesses.
In a company statement, Mastercard said it has already selected several startups to participate in the program.
“Building on Mastercard’s work in digital assets, seven startups have joined the program, including GK8, Domain Money, Mintable, SupraOracles, STACS, Taurus and Uphold. Together with Mastercard, they aim to expand and accelerate innovation around digital asset technology and make it safer and easier for individuals and institutions to buy, spend and hold cryptocurrencies and digital assets,” Mastercard wrote.
Mastercard said it is prepared to support startups working with non-fungible tokens (NFTs) and other blockchain applications, such as secure digital asset custody and related services.
The company explained that these seven startups were chosen because they address a wide range of industry challenges, including asset tokenization, data accuracy, digital security and seamless access between the traditional and digital economies.
The announcement noted that “each startup focuses on solving a unique industry challenge and, throughout the program, will draw on Mastercard’s expertise to support the continued growth and development of their solutions.”
Mastercard’s Start Path program, established in 2014, has supported more than 250 startups worldwide. This is the first time the program has been expanded specifically to include the cryptocurrency industry.
Mastercard concluded that broadening Start Path to include fast-growing cryptocurrency, blockchain and digital asset startups will give those companies access to the latest tools and solutions to help scale their innovations and advanced financial technologies.
This announcement follows last week’s news that Mastercard was enhancing its card offerings for cryptocurrency exchanges and wallets to simplify the conversion of cryptocurrencies into fiat currencies.