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The new program launched by Mastercard created records on the social media platform. Mastercard introduced the “Start Path” program, especially for organizations that support the digital needs of small and medium sized enterprises (SMEs). Across the world, SMEs hold 90% of global business at $50 trillion (USD).
The Start Path program will provide services for the investors who are interested in developing the SME sector towards digital levels like data insights, digital transactions, e-commerce solutions, and digital banking. It will help to fill the gap between Web2 and Web3 technologies to meet the consumer needs for crypto assets.
“We have taken a collaborative approach to co-innovation with fintechs. “We provide better platforms for Web3 and crypto startups to grow and create an ecosystem for users to thrive.”
Since 2014, Mastercard has been engaging with more than 350 startups across 40 countries to make the Start Path program successful. Currently, these startups are ruling the SME sectors digitally with other key partners. Mastercard picked the 7 best startups that have the capability to create communities for developers and to empower digital users via Web3 technologies.
Recently, Mastercard added seven startups to the Start Path program: Digital Treasures Center in Singapore, Loot Bolt in the United States, TBTM in Dubai, Fasset in Abu Dhabi, Quadrata in the United States, Stablecoin in Colombia, and Uptop in the US.
“There is no single vision for the crypto economy other than that anyone who uses crypto should be able to do so simply and safely. For Mastercard, it’s about offering choice in how people pay, spend, and buy crypto.”
There are nearly 2.9 million Mastercard holders across the world. And 90 million traders accept Mastercard payments. This would have a huge positive impact on the NFT platform. In 2021, NFT generated more than $25 billion in sales of art, music,and video games in the Metaverse.
Recently, Mastercard took another innovative step towards expanding NFTs on its platform. Mastercard partnered with the fiat financial app Hi to launch debit cards with NFT profile customization. Eligible cardholders can customize the profile of their debit cards by using their preferred NFTs. Mastercard is also allowing gold users to add some of the popular NFTs to customize their profiles, like CryptoPunks, Moonbirds, Goblins, and Azukis.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
