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Is Mastercard Planning To Support Cryptocurrency Transactions?

Mastercard is introducing a version of its Start Path startup programme designed specifically for companies in the cryptocurrency and blockchain industries.

 

Doing this work will create a lot more possibilities for shoppers and merchants, allowing them to transact in an entirely new form of payment. This change may open merchants up to new customers who are already flocking to digital assets,” Mastercard said.

 

“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,” says Jess Turner, EVP, new digital infrastructure and fintech at Mastercard.

 

Not all cryptocurrencies will be supported on Mastercard’s network, according to the company.

 

The payments company has chosen seven startups from around the world to participate in the programme, which will provide them with partnership opportunities, insights, and growth tools.

 

Singapore-based NFT marketplace Mintable, Israeli crypto custody platform GK8, and American crypto-native multi-asset digital money platform Uphold are among the participants.

 

Mastercard, for its part, will develop relationships with companies involved in an area that it is increasingly interested in.

 

“One of our responsibilities is to shape the future of cryptocurrency, which we do by bridging mainstream financial principles with digital asset innovations.”

 

the post said. “We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network,”