Nikolas Sargeant
Mastercard launches Start Path program to assist in the growth of fast-growing cryptocurrency companies
Mastercard announced today that it will be offering a new global startup called Start Path, which will offer a program dedicated to supporting blockchain-based technologies, digital assets, and cryptocurrency companies at large.
Mastercard and Crypto
Mastercard has been very business recently, signing a partnership with various companies who are pushing the boundaries in the crypto world, as well as a recent takeover of digital verification firm Ekata for $850 million. The financial giant seems to be building a network of digital assets in order to service clients looking to purchase using cryptocurrencies; these companies include Domain Money, GK8, Minitable, SupraOracles, STACS, Taurus, and Uphold.
It’s clear the direction Mastercard is going in and the purchase and partnerships made with these companies show they have a clear vision for digital currency. Innovation in the industry is worth billions right now and with many new companies offering new technologies to expand and accelerate the growth of the industry, it’s difficult to stay ahead of the curve.
Mastercards’ rival global payment giant VISA is also making waves in the crypto space of late, offering VISA cards to users of exchange platforms such as BlockFi. The ability for crypto holders to spend their funds using a credit card is something many would have thought to be impossible just a few years ago. While the crypto journey is unlikely to ever come to an end, the ability to make everyday purchases using digital currencies would certainly be seen as one of the final frontiers.
What is the aim of the Start Path program?
The companies that are participating in the Start Path program are looking to address a number of issues they currently face, which include asset tokenization, data accuracy, digital security, and accessibility to move between fiat and digital currency with ease.
The aim is for each of the various participating companies to solve their own unique issue, which they specialize in sharing a common goal. Mastercard will be there to guide and provide the means to develop their solutions.
While it seems that it’s been a recent involvement from the major payment companies like VISA and Mastercard, they have been deeply involved for well over 5 years now. The digital currency ecosystem has been benefiting from their engagement during this period, shaping the industry and providing security through the infrastructure that it’s built over the years.
What established financial companies offer the fintech world is a broad understanding and ease of access to mainstream financial principles, which, some may argue are archaic, are tried and tested and have served the world for decades.
