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Mastercard chooses 7 startups for its accelerator program

Start Path Crypto will allow participants to engage with developing technologies that will help bridge the gap between Web2 and Web3

Shashank Bhardwaj
Published: Nov 7, 2022 03:26:31 PM IST
Updated: Nov 7, 2022 03:31:00 PM IST

Mastercard chooses 7 startups for its accelerator programImage: Shutterstock

Mastercard, an international payments company leader in crypto assets, continues supporting blockchain and crypto assets. Mastercard has announced the launch of its fintech accelerator, the Mastercard Start Path program. It has named seven startups in the crypto and blockchain industry to its Start Path program, which aims to promote businesses' adoption of these technologies.

The new batch of startups includes Fasset, a crypto gateway provider based in Singapore; Digital Treasures Center, a crypto payments platform based in the Philippines; and Stable, a stablecoin-focused firm based in Colombia. Mastercard partnered with these companies earlier this year to develop digital payment solutions for financial inclusion in Indonesia.

The latest Mastercard Start Path program includes Loot Bolt, Quadrata privacy startup, and the blockchain-based media fintech project Take Back the Mic.

The announcement says that the chosen companies will engage with developing technologies that will help bridge the gap between Web2 and Web3; they further added, "We're welcoming a new cohort of startups to ease access to digital assets, build communities for creators and empower people to innovate for the future through Web3 technologies."

The company has run a six-month accelerator program since 2014 called Mastercard Start Path. Mastercard supports startups through its Accelerator Network, which helps entrepreneurs commercialise their products and services. Since its launch in 2014, the program has helped more than 350 companies to achieve unicorn status, including Thought Machine (a banking provider), Zeta (a fintech startup from India), and Razorpay (a payment processing company).

In 2021, Mastercard launched a dedicated crypto division of its accelerator program, Mastercard Start Path Crypto. The accelerator was created to help early-stage startups working on developing crypto and blockchain technologies. The program offers three months of support, including mentorship, access to resources, and networking opportunities.

Start Path Crypto, a program that helps startups integrate blockchain technology, recently added 25 companies to its roster, including digital wallet Uphold, crypto storage firm GK8 and Emin Gün Sirer, the founder and CEO of blockchain developer Ava Labs.

Mastercard recently announced a new collaboration with Paxos that will allow banks to offer their customers crypto trading capabilities and services. Previously, the company collaborated with the lauded exchange to allow Coinbase NFT users to make purchases using Mastercard cards.

The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash