Mastercard has launched the next generation of its blockchain payments startup program, adding 5 innovative firms to explore new payment technologies and real-world solutions. This phase focuses on use cases and trials, collaborating with industry experts and fintech startups.

Mastercard adds five firms to its Start Path program, focusing on innovative blockchain payment solutions

On May 15, fintech giant Mastercard announced the addition of five new firms to its Start Path Blockchain and Digital Assets program, per Cointelegraph.

The Start Path Blockchain and Digital Assets program is a fintech accelerator program aimed at "exploring future use cases to scale new solutions with startups around the world."

Kulipa, a crypto payment and card issuer; blockchain software firm Parafin; Peaq, a decentralized physical infrastructure network (DePin) firm; data platform Triangle; and blockchain developer Venly have all joined the initiative.

In a news release, Mastercard stated that this phase of the program would focus on use cases and trials to address specific issues:

"Each currency format – from regulated money to bank deposits, to stablecoins and CBDCs – serves a specific purpose, and Mastercard is connecting with industry experts and fintechs to explore differentiated use cases that can help to solve real-world problems."

Mastercard's program supports high-potential blockchain and Web3 startups, offering collaboration and access to its network

According to a Mastercard press statement, the program exclusively examines "high-potential blockchain, digital assets, and Web3 startups". Those chosen "receive the opportunity for collaboration, bespoke training, and access to Mastercard's customers and channels" throughout a four-month program.

Start Path, founded in 2014, claims to have sponsored over 400 entrepreneurs in 54 countries. Because of initiatives like this, Mastercard has steadily risen to the top of the fintech and blockchain payments forums.

As Cointelegraph revealed on May 14, Mastercard Lab collaborated with Israeli fintech firm Kima to create a "DeFi credit card." While not explicitly stated, the main aim is to combine decentralized financial protocols with the opportunity to apply for a line of credit.

On May 8, Mastercard partnered with U.S. banking behemoths such as Citigroup, Visa, and JP Morgan to explore distributed ledger technology for banking settlements through tokenization.

In April, Mastercard and 1inch introduced a debit card with cryptocurrency-to-fiat bridge capabilities. This card allows cryptocurrency users to make cash withdrawals and point-of-sale payments at merchants that accept debit cards.

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