Mastercard chooses 7 startups for its accelerator program

There is no single vision for the crypto economy other than anyone who uses crypto should be able to do so simply and safely. For Mastercard, it’s about offering choices in how people pay, spend and buy crypto. Our role is to provide a best-in-class user experience and scale to offer this choice. NFTs, blockchain gaming, and metaverse experiences could transform how consumers shop and communicate, however, we need to collaborate and bring together tech, banking, fintech, and crypto to unlock this potential. 

Read more: Mastercard teams up with UAE-based crypto firm

A shared vision for innovation, collaboration

We’ve always taken a collaborative approach to co-innovation with fintech. We build with an API and developer-first mindset to make it easy for fintech creators to co-innovate and unleash the vast utility and scale of our network to quickly power new and relevant solutions. With more than 90 million acceptance locations worldwide, our experience securing multiple payment rails instills trust and enables crypto companies to operate safely in the market. We provide an express lane for Web3 and crypto startups to grow and an ecosystem for them to thrive. 

Through the Mastercard Start Path global startup engagement program, we work with digital asset, blockchain, and cryptocurrency-based companies that share a vision to make blockchain technology and digital assets more accessible. These companies are making strides to bridge the gap between Web2 and Web3 and meet consumers where they are today. We’re welcoming a new cohort of startups to ease access to digital assets, build communities for creators, and empower people to innovate for the future through Web3 technologies. These companies will join more than 350 companies from 40 countries that have participated in Start Path since 2014. 

Powering the future of crypto

The following startups are joining Start Path to harness innovation in a way that powers economies and empowers people: 

• Digital Treasures Center (DTC) [Singapore] empowers merchants to pay, receive and transfer funds including card, cash, and crypto, as well as process major currencies using DTC Pay. 
• Fasset [Abu Dhabi] is an emerging market digital asset exchange, pioneering Web3 use cases for the next billion to enhance the way people own, connect and share digital assets. 
• Loot Bolt [U.S.] empowers organizations to build, grow and scale passionate communities by leveraging a Web3-powered social payments system. 
• Quadrata [U.S.] uses privacy-preserving and Sybil-resistant technology to bring identity and compliance to public blockchains, while also lowering reputational risk. 
• Stable® [Colombia] offers global remittances, peer-to-peer payments, and card use based on a technology that stabilizes all global currencies, including stablecoins, safely and simply. 

• TBTM (Take Back the Mic) Studios [Dubai] is building the world’s first blockchain-based media fintech, turning culture into currency by rewarding fans and compensating creators for building communities around great content. 
• Uptop [U.S.] uses blockchain to create a clutter-free place for brands to control their customer relationships and for shoppers to receive fun, personalized rewards. 

The newest Start Path cohort will engage in growth-essential opportunities including technology collaboration, mentorship, access to channels and customers, and the opportunity to accelerate their digital asset innovations and expand into new markets.  

Scaling for impact

Fintechs play a major role in digital transformation by bringing fresh ideas, customization, and greater choice for consumers and businesses. We believe collaboration across the crypto ecosystem is essential to delivering the right solutions at the right time. From our experience innovating payments and building a global network, we believe it’s more likely that we’ll see a hybrid economy that combines the benefits of Web3 technology with existing financial infrastructure. And why shouldn’t everyone have the opportunity to come along for the Web3 ride?