Mastercard Welcomes 7 Crypto, Blockchain Startups to Fintech Innovation Program

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Credit card giant Mastercard today announces that its welcoming seven new startups into its global startup engagement program, Mastercard Start Path.

Since its inception in 2014, Mastercard Start Path has fielded applications from over 1,500 startups every year and the program has helped more than 350 businesses attract well over $3.5 billion in funding.

Successful applicants are welcomed into Mastercards fintech network, where theyre given growth-essential opportunities to collaborate, receive mentoring and tap Mastercards existing connections and clientele in order to accelerate blockchain, Web3, and fintech innovation.

This years cohort welcomes seven companies from five different countries into the fold. From the United States, theres Web3 payments company Loot Bolt, a crypto privacy and compliance firm called Quadrata, and Uptop, which uses blockchain tech to help brands personalize their consumer experience.

The rest of this years intake comes from Singapore, Abu Dhabi, Colombia, and Dubai.

By bringing together various firms from different fields within crypto, Mastercards Start Path aims to catalyze innovation in the space and accelerate the hybridization of Web3 and emerging fintech systems with traditional finance.

Mastercard joins crypto investment trend

Mastercard isnt the only corporation working to accelerate the growth of crypto by investing in startups.

Back in November 2021, centralized exchange (CEX) Binance announced a $100 million investment in France. The Objective Moon, initiative aims to develop a Binance Research and Development hub in France to recruit blockchain talent across the country and the continent.

Last April, Binance CEO Changpeng CZ Zhao praised France for its pro-crypto regulations and announced that his exchange has acquired floorspace in the worlds largest startup incubator, Pariss Station F. The building accommodates over a thousand startups and lists Microsoft, Google, and Facebook as its partners.

The deal gives Binances selected startups free accommodation and access to various resources during their incubation period. They also get access to technical support and guidance from Binances team and partners.

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