Mastercard Has Launched a Global Program to Assist Cryptocurrency Startups in Scaling Their Ideas

• The world’s largest payments business, Mastercard, has launched a new global program for bitcoin entrepreneurs. Seven crypto companies have already joined the effort
• GK8, Mintable, Stacs, and Supraoracles are among the startups. GK8 (Israel) is an end-to-end institutional crypto custody platform that is self-managed
• Mastercard’s latest tools and solutions to assist these firms to expand their ideas and cutting-edge technology are now available to crypto entrepreneurs under the initiative

Mastercard, the world’s largest payments company, has established a new worldwide initiative for bitcoin entrepreneurs. The initiative has already attracted seven crypto businesses. They’ll collaborate with Mastercard to extend and accelerate innovation around digital asset technologies, making it safer and simpler for consumers and institutions to acquire, spend, and hold cryptocurrencies and digital assets. 

A new Start Path global startup engagement program devoted to assisting fast-growing digital assets, blockchain, and cryptocurrency companies, Mastercard said on Tuesday. The initiative has already attracted seven businesses. According to the statement, they will collaborate with Mastercard to extend and accelerate innovation around digital asset technologies, making it safer and simpler for consumers and institutions to acquire, spend, and hold cryptocurrencies and digital assets.

GK8, Mintable, Stacs, and Supraoracles are among the startups. GK8 (Israel) is an end-to-end institutional crypto custody platform that is self-managed. Mintable is a non-fungible token (NFT) marketplace in Singapore, Stacs is a blockchain infrastructure provider for the financial industry in Singapore, and Supraoracles is a blockchain oracle in Switzerland. Taurus, Uphold, and Domain Money are the other firms that have joined the initiative. Taurus (Switzerland) offers an enterprise-grade infrastructure for managing digital assets such as crypto assets, digital currencies, and tokenized assets, including issuance, custody, asset servicing, and trading. Uphold (USA) is a crypto investment and payment service provider for individuals and companies, whereas Domain Money (USA) aims to create an investing platform that will let retail investors bridge the gap between digital assets and traditional finance.

Since 2014, the Start Path initiative has aided over 250 companies, according to the statement. Mastercard’s latest tools and solutions to assist these firms to expand their ideas and cutting-edge technology are now available to crypto entrepreneurs under the initiative. These companies use the program to interact with our network of banks, merchants, partners, and digital actors throughout the world to provide innovative solutions, Mastercard stated. 

Mastercard has been engaging with the digital currency ecosystem since 2015, said Jess Turner, executive vice president of New Digital Infrastructure and Fintech, adding, as a leading technology player, they believe they can play a key role in digital assets, helping to shape the industry and provide consumer protection and security. One of our responsibilities is to help shape the future of cryptocurrencies, which we accomplish by combining traditional financial concepts with digital asset developments. 

Mastercard upgraded its card program for cryptocurrency wallets and exchanges this week, with the goal of making it simpler for partners to convert bitcoin to traditional fiat cash.

Ritika Sharma

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.