Mastercard has announced the inclusion of five pioneering startups in its blockchain and digital asset program, signaling a major move toward integrating blockchain technology within the financial industry.

These startups will collaborate with Mastercard to explore and enhance blockchain applications, pushing the boundaries of digital payments.

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The initiative highlights Mastercard’s commitment to harnessing blockchain technology for secure and efficient transactions. The selected startups are set to work on diverse projects, such as asset tokenization, decentralized finance (DeFi), and digital identity verification. Moreover, Mastercard will provide these companies with extensive resources, including access to its global network, expert mentorship, and technological infrastructure.

“Mastercard’s experience in payments innovation and building a global, card-based payments network uniquely positions the company to bridge these ecosystems with startups, power new solutions and create efficiencies in digital commerce experiences,” Mastercard said in the release.

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Mastercard is collaborating with startups worldwide to advance blockchain, digital assets, and Web3 solutions. Through its Start Path program, the payment giant offers promising startups collaboration opportunities, tailored training, and access to its vast customer base and channels over a virtual four-month period. Since 2014, Start Path has supported over 400 startups from 54 countries.

The latest cohort includes five innovative companies. Kulipa, based in France, facilitates next-generation crypto payment card issuance for digital wallets. The UK’s Parfin develops enterprise-grade software products to help financial institutions adopt blockchain technology. Singapore’s Peaq provides permissionless, borderless digital infrastructure for real-world applications, utilizing vehicles, machines, robots, and devices.

The US-based Triangle focuses on sustainability, offering a data platform that integrates climate data with finance. Lastly, Belgium’s Venly simplifies blockchain integration for developers and businesses, supporting industry growth and digital transformation.

“Through Mastercard Start Path, we’re looking to uncover new ways to unlock crypto mass adoption and wider financial inclusion with convenient, global stablecoin payments,” Kulipa founder Axel Cateland said.

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Mastercard’s initiative underscores its commitment to fostering innovation in blockchain and digital technologies, aiming to drive growth and transformation across the financial sector.