Payments giant Mastercard has added new members to its blockchain payments accelerator for startups in a bid to groom new firms to raise adoption levels in the space.
Mastercard has been a prominent supporter of blockchain payments and other use cases of digital ledger technology. It also runs an active program called the ‘Start Path Blockchain and Digital Assets program.’
The company guides firms participating in the program in a bid to expand the applications of blockchain technology. In a recent announcement, Mastercard said five more startups are joining the program.
One of the startups is Kulipa, a crypto payments firm. Others include Parfin, which serves a unified finance protocol; Peaq, a digital infrastructure company; Triangle, and Venly. All of them are pioneers in the blockchain industry, building cutting-edge solutions and products.
The press release of Mastercard quoted representatives from all the firms, who stated the partnership would benefit them.
Mastercard also quoted the importance of blockchain and digital assets and said, “Blockchain and digital assets are already transforming financial services, expanding how people and businesses can use their money to move value. Digital assets are becoming increasingly mainstream, speeding up commerce with trust and transparency.”
It noted how its expertise in building global payment chains would help it mentor the startups. Mastercard also claimed it would be a bridge for the startups toward existing ecosystems in the industry.
It noted it was connecting fintechs and industry experts in solving real world problems. Further, it mentioned it was doing so with unique use cases like stablecoins and CBDCs.
Mastercard is also a proponent of blockchain remittances and has mentioned this in a public report. In addition to this startup accelerator, it is engaged in other partnerships on blockchain and finance.
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