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Bullish: MasterCard picks seven crypto startups for growth program

Mastercard

TL;DR Breakdown

  • Mastercard announces picks for its growth program
  • The company wants to create a connection between Web2 and Web3
  • Mastercard continues to make inroads into the crypto sector

Global payments company Mastercard has announced that it has chosen seven crypto startups that would be onboarded on its Start Path Program. Over the last few years, the company has been helping firms across the market further the adoption of crypto. In the announcement by the firm, this program is aimed at helping startups across the world push the adoption of the crypto market.

The company wants to create a connection between Web2 and Web3

According to the statement released by Mastercard, the companies shortlisted for the program are gateway providing platform Fasset and Digital Treasures Center located in Singapore. Mastercard was in a joint project with the former earlier in the year. According to the details, they were trying to provide financial inclusion to the unbanked in Indonesia.

Other listed companies included Loot Bolt, a platform focused on delivering social payments for Web3 apps, Quadrata, Uptop, and blockchain-based media outfit Take Back The Mic. The selected companies will work for hand in hand with Mastercard to help them build a bridge between Web2 and Web3. Mastercard said that the newly selected companies would provide access to digital assets and create communities for content creators, and arm developers with enough resources to develop innovative products for the Web3 community.

Mastercard continues to make inroads into the crypto sector

The payment app created the program in 2014 to enable upcoming firms to showcase their services to commercial audiences. Mastercard has helped about 300 firms gain financial independence, with the majority now standing alone. Some companies passed through include Thought Machine, a banking company, and Indian-based firm Razorpay. The firm launched a crypto version of the same program last year. This new program was created to support crypto firms, most coming in the first three months.

After the new arm of the program was started, the payment firm has successfully helped over 25 crypto programs. Some notable companies include wallet provider Uphold and GK8, a firm in inbred storage. This news is coming off the back of several inroads that the payments app has made in the crypto market. Last month, the firm announced that it was rolling out a new service that would allow financial institutions to enable crypto trading on their platforms. The card provision arm of the company also inked a deal with Coinbase to allow users carry out their NFT purchases using the company’s card.

Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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