7 FinTech startups joined Mastercard Start Path
The credit card giant Mastercard has been running an accelerator program for startups since 2014. It has recently announced that this year, applications from 7 FinTech startups have been accepted for Mastercard Start Path. The firm intends to promote innovation in blockchain, FinTech, and the web3 space with this move.
The upcoming cohort of firms that have joined the program is quite diversified. They are from four countries: the United States, Singapore, United Arab Emirates, and Colombia.
Blockchain companies accepted in Mastercard Start Path
There are a few known names among the companies that will be joining the program. One of them is Abu Dhabi-based Fasset, which is a digital asset gateway service provider.
The credit card company, previously, has also worked with it to provide digital solutions in Indonesia. Another firm from the UAE is Take Back the Mic (TBTM Studios). It allows entertainment platforms to leverage blockchain technology.
There are three companies from the US: Loot Bolt, Uptop, and Quadrata. Loot Bolt provides services related to web3-based payment systems. Uptop offers a platform for brands to manage their customer relations, and Quadrata allows blockchain-based solutions for preserving privacy.
From Singapore, the Digital Treasures Center (DTC) will be part of the program. And from Colombia, Stable, a stablecoin startup, is accepted.
What’s the goal of Start Path?
Start Path was launched in 2014 to help startups get the initial funds and expand. It is a yearly program that lasts for six months. So far, this initiative has boosted the performance of over 350 firms, some of which have also reached unicorn status.
Last year, Mastercard decided to launch a crypto division for this program. It was to support web3 and crypto projects by investing in them. It helps companies build a community of developers and bring more innovation to the industry.
However, this credit card corporation is not the first to take such an initiative. Many corporations like Binance, Disney, and others also run accelerator programs.
Author: Wasay Ali
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