Mastercard launches a cryptocurrency accelerator programme

Payment giant Mastercard has launched a cryptocurrency accelerator programme called Start Path in a bid to support more companies in the ecosystem

Mastercard, one of the leading payment processors in the world, announced the launch of a cryptocurrency accelerator programme. The programme, called Start Path, is dedicated to helping cryptocurrency startups by giving them access to partnership opportunities and tools to grow.

In its blog post, Mastercard said it has already chosen some startups to kick start the programme. “As a continuation of Mastercard’s digital assets works, seven startups have joined the program, including – GK8, Domain Money, Mintable, SupraOracles, STACS, Taurus, and Uphold, – and together with Mastercard seek to expand and accelerate innovation around digital asset technology and make it safer and easier for people and institutions to buy, spend and hold cryptocurrencies and digital assets,” Mastercard wrote.

Mastercard said it is open to supporting startups in the non-fungible tokens (NFTs) space and other blockchain areas such as digital asset storage and more. The company said it chose these seven startups because they focus on addressing a wide range of pain points, including asset tokenisation, data accuracy, digital security and seamless access between the traditional and digital economy.

The blog post added that “Each startup is focused on solving a unique industry challenge and, throughout the program, will leverage Mastercard’s expertise to support the continued growth and development of their solutions.”

The Mastercard Start Path has been around since 2014 and has supported over 250 startups globally. However, this is the first time Mastercard is expanding it into the cryptocurrency space. Mastercard concluded that the expansion of Start Path to include fast-growing crypto, blockchain and digital assets startups would allow them to provide access to the latest tools and solutions to help the companies scale their innovations and cutting-edge financial technologies.

The news came a week after Mastercard announced that it is enhancing its card programme for crypto exchanges and wallets to make it easier for people to convert cryptocurrencies to fiat currencies.