Several significant firms dived into the crypto-verse this year, and Mastercard was one of them. While an array of platforms maintained a low profile considering the volatile nature of the market, the payments giant went all in and is continuing to do so. Its latest announcement is enough proof of the same.
Back in February this year, Mastercard went on to announce its interest in crypto. The payments platform revealed that it would be taking a plunge into the crypto-verse, and stablecoins would get most of its attention. In its announcement, the platform stated, “We are here to enable customers, merchants, and businesses to move digital value — traditional or crypto — however, they want. It should be your choice, it’s your money.”
Further elevating its presence in the crypto industry, Mastercard advertised its recent initiative, Start Path, in its latest press release. With this program, the platform hopes to help and bring together startups that focus on crypto as well as blockchain tech.
Mastercard’s move to elevate its presence in the crypto market?
Along with seven companies including, Uphold, Taurus, STACS, Mintable, and several others, Mastercard would be diving deep into the crypto and blockchain startup biz. All of these companies are from different parts of the globe, like Singapore, the USA, Israel, and Switzerland.
Speaking about the same, Jess Turner, the executive vice president of New Digital Infrastructure and Fintech, said,
“Mastercard has been engaging with the digital currency ecosystem since 2015. As a leading technology player, we believe we can play a key role in digital assets, helping to shape the industry, and provide consumer protections and security. 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.”
This initiative would allow startups to solve an array of challenges that the industry faces. The list includes tokenization, data accuracy, digital security, and seamless access between the traditional and digital economy. With each of the startups mentioned above specializing in specific fields, this initiative would address several market impediments.