Mastercard, a global payments technology company, recently announced the selection of five startups to participate in its Start Path blockchain and digital assets program. The initiative aims to drive innovation in blockchain technology and digital asset utilization to address real-world challenges and improve user experiences. These startups will have the opportunity to work with industry experts and fintech startups to develop solutions that enhance digital commerce user experiences.
Mastercard’s Start Path program will provide selected startups with access to specialized training, mentorship, and the company’s network of customers and channels over a four-month period. Since its inception in 2014, Mastercard has supported over 400 startups from 54 countries. Among the selected startups are Kulipa, a French company facilitating crypto payment card issuance, and Parfin, a UK-based company developing enterprise-grade software products for financial institutions. Singapore’s Peaq, U.S.-based Triangle, and Belgium-based Venly were also chosen to participate in the program.
One of Mastercard’s recent successes includes the completion of a live test of the Multi-Token Network (MTN) with Standard Chartered Bank Hong Kong (SCBHK). During the pilot, carbon credits were tokenized within the Hong Kong Monetary Authority’s Fintech Supervisory Sandbox using the MTN. The test showcased a novel blockchain application in financial services, demonstrating the potential of tokenization and blockchain technology in modernizing financial transactions.
The startups participating in Mastercard’s Start Path program express optimism about unlocking mass crypto adoption, promoting wider financial inclusion, and shaping the future of commerce through innovative blockchain solutions. The program aims to leverage Mastercard’s expertise in constructing a global payments network to connect regulated money, bank deposits, stablecoins, and central bank digital currencies (CBDCs) with startups. By collaborating with industry experts, the selected startups will work on developing use cases that address pressing societal needs.
The Start Path program provides a platform for startups like Kulipa, Parfin, Peaq, Triangle, and Venly to explore new ways to use blockchain technology and digital assets to enhance user experiences and broaden the utility of these technologies. The program emphasizes the importance of driving innovation in the digital commerce space and supporting startups that are at the forefront of blockchain technology development. Through mentorship, access to Mastercard’s network, and specialized training, participating startups will have the opportunity to accelerate their growth and make a significant impact in the fintech industry.
Mastercard’s successful live test of the Multi-Token Network with SCBHK highlights the company’s commitment to exploring new blockchain applications in financial services. The MTN has the potential to revolutionize financial transactions by enabling real-time exchanges across different blockchains, as demonstrated in the pilot with tokenized carbon credits. By collaborating with partners like Standard Chartered Bank Hong Kong, Mastercard continues to drive innovation in blockchain technology and digital assets, ultimately shaping the future of commerce and payments.
