Payment giant MasterCard has launched a new global program for cryptocurrency startups. Seven encryption companies have already joined the program. They will work with MasterCard to “expand and accelerate innovation around digital asset technology, so that people and institutions can buy, consume, and hold encrypted currencies and digital assets more securely and easily.”
Mastercard’s new encryption plan
- Mastercard announced on Tuesday that “a new Start Path global entrepreneurial participation program dedicated to supporting fast-growing digital asset, blockchain and cryptocurrency companies.”
- Seven start-up companies have joined the program. They will work with MasterCard to “expand and accelerate innovation around digital asset technology, allowing people and institutions to purchase, consume and hold encrypted currencies and digital assets more securely and easily,” details of the announcement.
- These startups include GK8, Mintable, Stacs and Supraoracles. GK8 (Israel) is a self-managed end-to-end institutional encryption custody platform. Mintable (Singapore) is a non-fungible token (NFT) market, Stacs (Singapore) provides blockchain infrastructure for the financial industry, and Supraoracles (Switzerland) is a blockchain oracle.
- Other companies joining the program are Taurus, Uphold and Domain Money. Taurus (Switzerland) provides enterprise-level infrastructure to manage any digital assets, including encrypted assets, digital currencies and tokenized assets, covering issuance, custody, asset services and transactions. Uphold (USA) is an encrypted investment and payment service provider for consumers and enterprises. Domain Money (USA) hopes to build an investment platform to bridge the gap between digital assets and traditional finance for retail investors.
- The announcement pointed out that since 2014, the Start Path program has helped more than 250 start-up companies. The program now provides crypto startups with “the latest tools and solutions from MasterCard to help these companies expand their innovation and cutting-edge technology.”
- Mastercard explained: “These startups use the program to connect with our ecosystem of banks, merchants, partners, and digital players around the world to provide new solutions.”
- Jess Turner, Executive Vice President of New Digital Infrastructure and Fintech, commented: “Mastercard has been participating in the digital currency ecosystem since 2015,” elaborated:
As a leading technology player, we believe that we can play a key role in the digital asset space, help shape the industry, and provide consumer protection and safety. Part of our responsibility is to shape the future of cryptocurrency, and we are doing this by linking mainstream financial principles with digital asset innovation.
- Last week, MasterCard Announce Enhance its card program for cryptocurrency wallets and exchanges, aiming to “make it easier for partners to convert cryptocurrencies into traditional fiat currencies.”
What do you think of MasterCard’s new plan for crypto startups? Let us know in the comments section below.
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