The new Mastercard upgrade is said to pose a challenge to rival Visa’s Fast Track initiative and intends to add crypto and blockchain tech track to their Start Path Incubator program.
Mastercard Inc (NYSE: MA) will be adding a new crypto and blockchain technology track to their incubator program called Start Path. Mastercard had recently announced that they will begin to scale their work operations in the domain of cryptocurrency by facilitating payment transactions to be accepted in crypto.
Mastercard New Crypto Track
Mastercard is one of the leading companies that offer payment transfer facilities to global consumers and now is actively experimenting to add a new portfolio of dealing in cryptocurrency as a vital addition to their ever-growing business scale and operations. The company has announced that they will be adding a new crypto track to be known as Start Path to venture into crypto and blockchain technology.
Mastercard’s new upgrade is set to pose a challenge to another rival company Visa Inc (NYSE: V), which is actively running a similar incubator program called Fast Track and has catered to many different startups who wish to work with Visa.
Now the company wishes to start an initiative program where they will be providing guided assistance to companies who wish to establish their domain in digital asset avenue. Mastercard will be helping such companies by offering financial expertise and technical aid to accelerate startups to perform better in their early stages.
Mastercard will be adding seven new digital startups to begin their incubator program; the startups that have reportedly joined the new venture are GK8, which is a crypto custody program, Mintable, a leading NFT-based marketplace, SupraOracles, a blockchain oracle company, Domain Money, a crypto investment startup, Taurus, a digital asset company, STACS, a blockchain infrastructure company and Uphold which is a digital finance firm.
Jess Turner, Mastercard executive Vice President of fintech has commented that Mastercard was always looking for new ways to expand their work portfolio and forge a new route, whereas now the company has found a suitable domain to carve their niche in, and deal with cryptocurrency by “bridging mainstream financial principles with digital asset innovations.”