Mastercard has announced the selection of five startups to participate in its Start Path blockchain and digital assets program, demonstrating its commitment to fostering innovation in blockchain technology and digital asset utilization.

The chosen startups will collaborate with Mastercard to explore new ways of using money to address real-world challenges, enhance user experiences, and broaden the utility of blockchain technology.

Mastercard's Expertise in Global Payments

Mastercard emphasized its extensive experience in constructing a global payments network, highlighting its ability to connect regulated money, bank deposits, stablecoins, and central bank digital currencies (CBDCs) with startups. The Start Path program aims to drive the development of innovative solutions that enhance digital commerce user experiences.

Selected startups will benefit from special training, mentorship, and access to Mastercard's network of customers and channels over a four-month period. Since its inception in 2014, the Start Path program has supported over 400 startups from 54 countries.

Among the Chosen Startups

The selected startups include Kulipa, a French-based company facilitating crypto payment card issuance for digital wallets, and UK-based Parfin, focusing on developing enterprise-grade software products for financial institutions adopting blockchain.

Singapore's Peaq, known for providing permissionless and borderless digital infrastructure for real-world applications, was also chosen for the program.

Triangle, a U.S.-based startup prioritizing sustainability through a data platform integrating climate data with finance, and Venly, a Belgium-based startup simplifying blockchain integration for developers and businesses, complete the list of selected participants.

Mastercard's Successful Live Test of Multi-Token Network

In a separate announcement, Mastercard and Standard Chartered Bank Hong Kong (SCBHK) completed the first live test of Mastercard's Multi-Token Network (MTN), showcasing a novel blockchain application in financial services.

The proof-of-concept pilot involved tokenizing carbon credits within the Hong Kong Monetary Authority's (HKMA) Fintech Supervisory Sandbox. This successful trial demonstrates the potential of blockchain technology to modernize financial transactions and drive innovation in the industry.