Cryptocurrencies

Mastercard to launch new crypto and blockchain program

American card services corporation Mastercard Inc says it wants to enable its users to make buy, spend and hold cryptocurrencies in a more convenient way.

Dubbed ‘Start Path’, this global start-up engagement program plans to work with digital assets, blockchain and cryptocurrency companies with the goal of growing digital asset technology.

According to the press release, all start-ups participating in the program will address numerous pain points such as like asset tokenisation, digital security and seamless access between the traditional and digital economies.

Seven crypto-focused start-ups have already joined the program so far, including Uphold and Domain Money – well-known building investment platforms for digital assets. Singapore-based nonfungible token (NFT) marketplace Mintable, Israel-based crypto custody platform GK8, which offers a cold vault, and Switzerland-based Taurus, which delivers enterprise-grade infrastructure for managing digital assets, are also involved.

Key role in digital assets

“As a leading technology player, we believe we can play a key role in digital assets, helping to shape the industry and provide consumer protection and security,” said Jess Turner, Mastercard’s executive vice president of new digital infrastructure and fintech.

“Mastercard has been engaging with the digital currency ecosystem since 2015.

“Part of our role is to forge the future of cryptocurrency, and we’re doing that by bridging mainstream financial principles with digital assets innovations.”

Mastercard also intends to make the exchange of digital currencies into fiat currencies more efficient, and is collaborating with Circle, Paxos Trust Company and Evolve Bank & Trust.

The company announced a new project last week that will incorporate USDC stablecoin as a means to facilitate crypto-to-fiat conversions in its payment facilities.

Teuta Franjkovic

Starting out as a staff writer with Cosmopolitan, Teuta has risen through the ranks of business journalism, editing daily newspapers and websites in the IT and economics industries. With a passion for creating opportunities and bringing people together, Teuta turned her attention to the world of crypto and blockchain. She holds a double MA in Public Politics and Entrepreneurship.

Disqus Comments Loading...

Recent Posts

Kwenta and Perennial Kickstart Arbitrum Expansion with 1.9M ARB

Grand Cayman, Cayman Islands, 26th July 2024, Chainwire

9 months ago

Ethereum could soon surpass the 3K price point

As usual, the crypto market is keeping everyone guessing what could happen next. After an…

9 months ago

Agoric Unveils Orchestration for Next-Gen Web3 Applications

San Francisco, United States / California, 10th July 2024, Chainwire

10 months ago

Solciety’s PolitiFi Meme Coin Presale Raises $600K+ in First Two Weeks

London, United Kingdom, 2nd July 2024, Chainwire

10 months ago

PrimeXBT to democratise financial markets with total revamp and upgraded product offering

Majuro, Marshall Islands, May 22nd, 2024, ChainwireLeading Cryptocurrency broker, PrimeXBT, has just launched a total…

11 months ago