Mastercard’s Fintech Innovation Program welcomes 7 crypto startups

The program started in 2014 and has received 1500 applications for the Mastercard Start Path. Mastercard’s initiative has helped 350 startups receive a cumulative funding of $ 3.4 million. Worthy applications get to tap into Mastercard’s clientele to promote their blockchain solutions, receive mentoring on pivoting successful initiatives to drive wider reach.

This year's cohort includes Loot Bolta crypto privacy compliant system, Quadrata - a crypto privacy compliance platform, and Uptop - a firm that assists brands to leverage tech to personalize the customer’s experience. The rest of the firms are from Singapore, Abu Dhabi, Colombia, and Dubai.

In mid October Mastercard launched a program that will enable banks to extend crypto trading investment services to their customers in collaboration with Paxos.

Digital Treasures Center (DTC) [Singapore], Fasset, based in Abu Dhabi and Stable - a global remittance solution based in Columbia are the other crypto firms selected for the program.

“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,”  Mastercard said in a statement.

Another noteworthy initiative of Mastercard is the Fintech Express Program that also helped many startup businesses scale their solutions and offerings.