Mastercard supports seven more blockchain startups for its crypto accelerator program

As part of its fintech accelerator, the Mastercard Start Path program, global payments giant Mastercard continues to support cryptocurrency and blockchain startups.

Mastercard announced on November 3 that it has chosen seven more industry startups for its Start Path program to promote the adoption of crypto and blockchain technology.

Fasset, Singapore’s crypto payments platform Digital Treasures Center, and Colombian stablecoin-focused firm Stable are among the new startups in the new cohort.

Mastercard previously collaborated with Fasset in July to develop digital solutions to promote financial inclusion in Indonesia.

The latest Mastercard Start Path program also includes Loot Bolt, a Web3-focused social payments system provider, Quadrata, a privacy startup, Take Back the Mic, a blockchain-based media fintech project, and Uptop, a brand-oriented platform.

According to the announcement, one of the chosen companies’ main goals will be to bridge the gap between Web2 and Web3.

“Through Web3 technologies, 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,” Mastercard added.

The Mastercard Start Path accelerator program is a six-month program designed to assist startups in expanding and commercializing their products and services.

Mastercard has supported over 350 startups to date, with many of them becoming unicorns, including banking provider Thought Machine, Indian fintech startup Zeta, and Razorpay.

In 2021, Mastercard launched Start Path Crypto, a dedicated crypto division of Mastercard Start Path. The crypto accelerator was founded to support seed, Series A, and Series B startups involved in crypto and blockchain development over a three-month period.